October 15 (SMM) - The SM2601 contract opened at 5,726 yuan/mt and closed at 5,746 yuan/mt, up 0.31%, with the highest price at 5,798 yuan/mt and the lowest at 5,724 yuan/mt. Trading volume was 166,961 lots, and open interest was 37,230 lots. Cost side, the coke market was temporarily stable with no price adjustments, while the manganese ore market was in the doldrums. Supply side, the spot market was in the doldrums, with relatively small production fluctuations at alloy plants in north China and production cuts at plants in south China. The overall market was dominated by wait-and-see sentiment, and spot prices remained stable. Demand side, downstream steel mills maintained just-in-time procurement of SiMn alloy with a strong intention to drive down prices, waiting for steel tenders to guide the market. Overall, the SiMn market is expected to continue fluctuating in the near term.
Manganese Silicon Futures Fluctuate, Wait-and-See Sentiment Dominates the Market [SMM Manganese Silicon Futures Review]
- Oct 15, 2025, at 3:48 pm
October 15 news: The SM2601 contract opened at 5,726 yuan/mt and closed at 5,746 yuan/mt, up 0.31%. The highest price for the day was 5,798 yuan/mt, and the lowest price was 5,724 yuan/mt. Trading volume was 166,961 lots, and open interest was 37,230 lots.
Cost side, the coke market remained temporarily stable, with no price adjustments observed. The manganese ore market was in the doldrums.
Supply side, the spot market was in the doldrums. Production fluctuations at alloy plants in northern China were relatively small, while plants in south China implemented production cuts. Overall, the market was dominated by a wait-and-see sentiment, and spot prices remained temporarily stable.
Demand side, downstream steel mills maintained just-in-time procurement of SiMn alloy, with a strong intention to drive down prices, awaiting price guidance from steel tender pricing.
In summary, the SiMn market is expected to continue fluctuating in the near term.
