September 12: The SM2601 contract opened at 5,834 yuan/mt and closed at 5,832 yuan/mt, down 0.48%. The highest price was 5,884 yuan/mt and the lowest was 5,808 yuan/mt during the daytime session. Trading volume was 144,793 lots, and open interest was 325,570 lots. Today, the futures showed a fluctuating trend in the doldrums. Cost side, recent manganese ore prices provided slightly stronger support. Supply side, the wait-and-see sentiment remained strong in the SiMn market, with most producers holding back from selling, and spot prices remained stable for the time being. Demand side, HBIS Group’s first round of September SiMn inquiry was 5,800 yuan/mt, down significantly from the August SiMn price of 6,200 yuan/mt. Market attention is focused on the guidance from HBIS’s final pricing.
Futures in the doldrums, awaiting HBIS pricing [SMM Silicon Manganese Futures Review]
- Sep 12, 2025, at 4:12 pm
September 12 (SMM) - The SM2601 contract opened at 5,834 yuan/mt and closed at 5,832 yuan/mt, down 0.48%. The highest price was 5,884 yuan/mt and the lowest was 5,808 yuan/mt. The trading volume was 144,793 lots and the open interest was 325,570 lots. The futures were in the doldrums today. Cost side, the support from manganese ore prices strengthened slightly recently. Supply side, the wait-and-see sentiment remained strong in the SiMn market, with most producers holding back from selling and spot prices holding stable for now. Demand side, HBIS Group’s first round of SiMn inquiry for September was 5,800 yuan/mt, down significantly from the August pricing of 6,200 yuan/mt. Market participants will keep a close eye on HBIS’s final pricing for market direction.
