Futures Fluctuate Downward, SiMn Prices Stabilize [SMM Manganese Silicon Futures Review]

On August 26, the SM2601 contract opened at 5,896 yuan/mt and closed at 5,862 yuan/mt, down 0.37%, with the highest price at 5,918 yuan/mt and the lowest price at 5,856 yuan/mt. The trading volume was 165,527 lots, and the open interest was 299,744 lots. The futures fluctuated downward today, and the spot price of SiMn alloy remained stable. Cost side, the manganese ore market was in the doldrums, but cost support remained. Currently, SiMn alloy factories mainly focus on scheduled production, with relatively small inventory pressure. The willingness to sell at low prices was low, and most alloy plants chose to hold back from selling.