Mainstream Steel Bids Yet to Be Priced, Market Remains in Wait-and-See Mode [SMM Manganese Silicon Futures Review]

【SMM SiMn Alloy Futures Review: Mainstream Steel Bidding Yet to Be Priced, Market Mostly Observing】 The SM2505 contract opened at 6,662 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,740 yuan/mt, up 0.39%. The daily high was 6,786 yuan/mt, and the low was 6,576 yuan/mt. Trading volume was 678,125 lots, and open interest was 391,728. Raw material side, manganese ore continued its upward trend, with miners showing strong sentiment to stand firm on quotes. The market faced a shortage of circulating manganese ore, and actual transactions followed up slowly. Spot side, supported by costs, SiMn alloy producers were reluctant to sell, with weak willingness to sell at low prices. Demand side, downstream buyers mostly adopted a wait-and-see attitude, awaiting the pricing of mainstream steel bidding.