SMM

Nov. 26 (Xinhua) – The SM2601 contract opened at 5,630 yuan/mt and closed at 5,630 yuan/mt, down 0.25%. The highest price during the daytime session was 5,646 yuan/mt, and the lowest price was 5,602 yuan/mt. Trading volume was 123,900 lots, and open interest was 369,957 lots. Futures remained weak today, struggling to rise. Cost side, the core raw materials, coke and manganese ore markets, both held up well. Supply side, the market generally held a wait-and-see, slightly pessimistic attitude. Alloy plants in north China maintained a normal order-based production pace, with relatively steady supply-side release; overall operating rates in south China were on the low side. Demand side, as the off-season began, end-use demand absorption capacity was limited, providing insufficient momentum for SiMn prices. Spot SiMn prices remained in the doldrums, fluctuating around the cost line.