SiMn futures fluctuate rangebound, spot SiMn price holds steady [SMM SiMn Futures Review]

September 23: The SM2601 contract opened at 5,858 yuan/mt and closed at 5,882 yuan/mt, down 0.03%. The highest price for the day was 5,940 yuan/mt, and the lowest was 5,846 yuan/mt. Trading volume was 246,470 lots, and open interest was 335,174 lots. Cost side, the manganese ore market remained firm, with little change in cost support. Supply side, most plants still preferred to monitor futures movements at the beginning of the week, with retail quotations and willingness to sell remaining relatively low. Demand side, HBIS Group set the final September SiMn price at 6,000 yuan/mt, and demand-driven momentum remained relatively weak. Recent SiMn market quotations have been cautious, and future SiMn alloy prices still need to focus on downstream steel mill demand and SiMn futures trends.