SiMn Futures Under Pressure HBIS December SiMn Price Set at 5,770 yuan/mt [SMM Manganese Silicon Futures Review]

December 11 news: The SM2603 contract opened at 5,724 yuan/mt and closed at 5,712 yuan/mt, down 0.49%. The highest price was 5,756 yuan/mt and the lowest price was 5,702 yuan/mt during the daytime session. Trading volume was 183,800 lots and open interest was 290,271 lots. Futures edged higher initially but pulled back later in the day, showing a lack of upward momentum. Cost side, the manganese ore market remained firm, with high-grade oxide ore showing notable gains, providing strong 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 of most enterprises, putting producers under significant pressure from losses. Demand side, steel mills were gradually launching a new round of tenders. HBIS Group set its December SiMn price at 5,770 yuan/mt, up 70 yuan from the first round inquiry price of 5,700 yuan/mt, but down significantly from the November SiMn price of 5,820 yuan/mt, leading to negative market sentiment for SiMn. In the short term, spot SiMn prices are expected to remain in the doldrums.