SiMn futures fluctuated, with strong wait-and-see sentiment in the post-holiday market [SMM SiMn Futures Review]

October 9: The SM2601 contract opened at 5,766 yuan/mt and closed at 5,768 yuan/mt, with a change of 0.00%. The daily highest price was 5,778 yuan/mt, and the lowest price was 5,730 yuan/mt. Trading volume was 153,351 lots, and open interest was 363,849 lots. Cost side, coke prices remained stable after the increase during the National Day holiday, and spot manganese ore prices also held steady, with cost support still in place. Supply side, alloy plants saw relatively small fluctuations in production, and the market was dominated by a wait-and-see sentiment, with low willingness to offer. Demand side, the market did not show the lively trading activity typical of the peak season, with rigid demand for SiMn alloy remaining stable, providing limited boost to SiMn market sentiment. Overall, the SiMn market is likely to continue fluctuating in the near term.