[SMM Ferromanganese-Silicon Futures Review: Futures Market in the Doldrums, Spot Prices Remain Stable] The SM2509 contract opened at 5,590 yuan/mt, fluctuated downward after the morning session, and eventually closed at 5,530 yuan/mt, down 1.50%. The daily high was 5,616 yuan/mt, and the low was 5,492 yuan/mt. Trading volume was 375,707 lots, and open interest was 466,577. On the raw material side, manganese ore inventory at ports continued to build up, alloy plants’ purchases of manganese ore were sluggish, and spot prices dropped slightly. On the spot side, SiMn plants’ willingness to offer quotes was weak before the holiday, and downstream steel mills’ purchases of SiMn were sluggish.
On May 29: The SM2509 contract opened at 5,590 yuan/mt, fluctuated downward after the morning session, and finally closed at 5,530 yuan/mt, down 1.50%. The daily high was 5,616 yuan/mt, and the low was 5,492 yuan/mt. Trading volume reached 375,707 lots, with open interest at 466,577. On the raw material side, manganese ore inventory at ports continued to build up, alloy plants showed sluggish purchasing interest in manganese ore, and spot prices dropped slightly. On the spot side, SiMn plants were less inclined to offer quotes before the holiday, and downstream steel mills showed sluggish purchasing interest in SiMn.
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