SiMn Futures Fluctuate Upward, Supply-Demand Situation Should Be Continuously Monitored [SMM Silicon Manganese Futures Review]

December 19 news: The SM2603 contract opened at 5,792 yuan/mt and closed at 5,808 yuan/mt, up 0.35%, with the highest price at 5,822 yuan/mt and the lowest at 5,776 yuan/mt. Trading volume was 214,200 lots, and open interest stood at 281,543 lots. Today, SiMn futures rose at the opening and closing, fluctuating upward overall. Cost side, the core raw material manganese ore market consolidated, with traders' offers remaining firm. Supply side, alloy plants in the main northern producing areas operated stably, while those in south China had low operating rates. Demand side, HBIS Group set its December SiMn price at 5,770 yuan/mt, down significantly from November's 5,820 yuan/mt. This price is below the cost of most enterprises, putting downward pressure on the SiMn alloy market. Currently, favorable factors in the SiMn market are not obvious, and fundamental supply-demand conditions still require close monitoring.