SMM

SMM SiMn Alloy Futures Review: Futures Market Fluctuates Rangebound, Spot Prices Remain Stable. The SM2505 contract opened at 6,060 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,070 yuan/mt, down 0.36%. The daily high was 6,150 yuan/mt, and the low was 6,030 yuan/mt. The trading volume was 242,280 lots, and the open interest was 397,622. On the raw material side, the market mostly adopted a wait-and-see attitude at month-end, with miners' offers remaining firm, and spot prices of manganese ore remained stable. On the spot side, SiMn alloy mills in both the north and south are expected to reduce or halt production due to production pressure. Downstream steel mills showed weak purchasing enthusiasm for SiMn alloy, waiting for the new round of steel tenders to enter the market.