SiMn futures are under pressure, HBIS December procurement volume is 14,700 mt [SMM Silicon Manganese Futures Review]

Published: Dec 8, 2025 18:01

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December 8: The SM2603 contract opened at 5,750 yuan/mt and closed at 5,736 yuan/mt, down 0.42%. The highest price during the daytime session was 5,766 yuan/mt, and the lowest price was 5,696 yuan/mt. Trading volume was 265,100 lots, and open interest stood at 271,282 lots. Today, futures were under pressure. Cost side, the manganese ore market remained firm, with traders showing strong confidence in holding prices firm, providing solid cost support for SiMn. Supply side, alloy plants in both the north and south maintained stable operations. Spot SiMn prices in production areas were below the cost levels of most enterprises, putting significant pressure on producers with losses. Demand side, a new round of steel mill tenders was gradually unfolding. HBIS Group's December SiMn procurement volume was 14,700 mt, down from the November tender volume of 16,000 mt. Overall, the market is watching for the new round of steel tender prices, and spot SiMn prices are expected to remain in the doldrums in the short term.

December 8 — SM2603 contract opened at 5,750 yuan/mt and closed at 5,736 yuan/mt, down 0.42%. The highest price during the daytime session was 5,766 yuan/mt, and the lowest price was 5,696 yuan/mt. Trading volume was 265,100 lots, and open interest stood at 271,282 lots. Futures were under pressure today. Cost side, the manganese ore market remained firm, with traders showing strong confidence in holding prices firm, providing solid cost support for SiMn. Supply side, alloy plants in both the north and south maintained stable operations. Spot SiMn prices in production areas were below the cost price for most enterprises, putting manufacturers under significant loss pressure. Demand side, a new round of steel mill tenders is gradually unfolding. HBIS Group's December SiMn procurement volume was 14,700 mt, down from the November tender volume of 16,000 mt. Overall, the market is watching for the new round of steel tender prices, and spot SiMn prices are expected to remain in the doldrums in the short term.

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