The Futures Market Fluctuates Downward, SiMn Alloy Spot Market Remains Temporarily Stable [SMM SiMn Alloy Futures Review]

[SMM SiMn Alloy Futures Review: Futures Fluctuate Downward, SiMn Spot Market Remains Stable] The SM2501 contract opened at 6,100 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,090 yuan/mt, down 0.16%. The intraday high was 6,108 yuan/mt, and the low was 6,040 yuan/mt. Trading volume reached 132,490 lots, and open interest stood at 340,661. Raw material side, alloy plants showed weak purchasing enthusiasm before the holiday, and the manganese ore market saw sluggish transactions. Spot side, most SiMn plants showed weak willingness to sell at low prices, while futures companies largely dumped at low prices. Futures side, the market continued to fluctuate downward, market sentiment pulled back, and most market participants adopted a wait-and-see approach.