Futures Market Moves Sideways, Observing Post-Holiday Market [SMM Manganese Silicon Futures Review]

【SMM SiMn Alloy Futures Review: Futures Fluctuate Upward, Market Trading Slows】 SM2505 contract opened at 6,870 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,850 yuan/mt, up 0.47%. The daily high was 6,910 yuan/mt, and the low was 6,800 yuan/mt. Trading volume was 354,418 lots, and open interest was 415,496 lots. Raw material side, pre-holiday port manganese ore inventory remained low, and spot prices stayed stable. Spot side, many SiMn alloy plants held back from selling and maintained normal production, while some reduced production. Demand side, demand for SiMn alloy from downstream remained weak, with most waiting for mainstream steel tender pricing.