Futures Fluctuated at Low Levels SiMn Prices Stabilized [SMM Manganese Silicon Futures Review]
The SM2601 contract opened at 5,820 yuan/mt and finally closed at 5,842 yuan/mt, with a decline of 0.24%. The highest price during the day was 5,844 yuan/mt, and the lowest price was 5,788 yuan/mt. The trading volume was 138,956 lots, and the open interest was 312,315 lots. Today's futures market fluctuated at a low level, and the spot price of SiMn alloy remained stable. In terms of cost, manganese ore and coke prices were still at a relatively high level, providing continued cost support. In terms of supply, SiMn alloy factories produced based on sales, with relatively small pressure from production scheduling and delivery, and there was still a sentiment to hold back from selling at low prices. On the demand side, buyers in east China mostly focused on acceptance bills including tax at around 5,950 yuan/mt delivered to the plant, continuing to drive down purchasing prices. Currently, the SiMn market was in the doldrums.
On August 28, the SM2601 contract opened at 5,820 yuan/mt and closed at 5,842 yuan/mt, with a decline of 0.24%. The highest price of the day was 5,844 yuan/mt, and the lowest price was 5,788 yuan/mt. The trading volume was 138,956 lots, and the open interest was 312,315 lots. Today, the futures market fluctuated at a low level, and the spot price of SiMn alloy remained stable. In terms of cost, manganese ore and coke prices were still at a relatively high level, providing continued cost support. In terms of supply, SiMn alloy factories produced based on sales, with smaller pressure to deliver orders, and there was still a sentiment of reluctance to sell at low prices. On the demand side, buyers in east China mostly focused on 5,950 yuan/mt for delivery including tax, continuing to drive down purchasing prices. Currently, the SiMn market was in the doldrums.
