September 22: The SM2601 contract opened at 5,988 yuan/mt and closed at 5,870 yuan/mt, down 1.84%. The highest price for the day was 6,002 yuan/mt, and the lowest was 5,800 yuan/mt. Trading volume was 335,892 lots, and open interest was 339,805 lots. Cost side, the manganese ore market remains firm, with cost support temporarily stable. Supply side, most plants still chose to wait and see futures movements at the beginning of the week, with retail quotations and willingness to sell remaining low. Demand side, HBIS Group's final September SiMn price was set at 6,000 yuan/mt, up 200 yuan from the first round inquiry of 5,800 yuan/mt, which was largely in line with market expectations. Recent market sentiment for SiMn has been cautious. Going forward, manganese ore prices still need to be monitored in light of downstream demand and SiMn futures trends.
SiMn Futures Fluctuate and Pull Back, Market Sentiment Remains Cautious Regarding Shipments [SMM SiMn Futures Review]
- Sep 22, 2025, at 5:19 pm
September 22 (SMM) - The SM2601 contract opened at 5,988 yuan/mt and closed at 5,870 yuan/mt, down 1.84%. The highest price was 6,002 yuan/mt and the lowest was 5,800 yuan/mt. Trading volume was 335,892 lots and open interest was 339,805 lots. Cost side, the manganese ore market remained firm, with cost support holding steady. Supply side, most plants remained cautious and monitored futures movements at the beginning of the week, while retail quotations and willingness to sell stayed low. Demand side, HBIS Group set its final September SiMn price at 6,000 yuan/mt, up 200 yuan from the initial inquiry price of 5,800 yuan/mt, which was largely in line with market expectations. Recent market sentiment for SiMn has been cautious, and future manganese ore prices will depend on downstream demand and SiMn futures trends.
