SMM

[SMM SiMn Alloy Futures Review: SiMn Alloy Futures Prices Continue to Decline, Spot Prices Fluctuate Downward] The SM2505 contract opened at 6,440 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,354 yuan/mt, down 1.73%. The daily high was 6,480 yuan/mt, and the low was 6,350 yuan/mt. Trading volume reached 512,480 lots, and open interest stood at 464,141. On the raw material side, alloy plants showed weak acceptance of high-priced manganese ore, and manganese ore spot prices fluctuated downward. Cost support weakened, leading to a downward fluctuation in manganese ore prices. SiMn alloy plants mostly maintained a wait-and-see sentiment, with limited willingness to actively offer prices. The first round of mainstream steel tender inquiries has yet to be announced, and market participants generally adopted a cautious wait-and-see sentiment.