SMM

SHANGHAI, Jan 3 (SMM) - Today, the most traded SM 2305 contract fell to 7,510 yuan/mt after opening at 7,660 yuan/mt and finally stabilised and closed at 7,556 yuan/mt, with the highest point of 7,660 yuan/mt, the lowest point of 7,508 yuan/mt and the daily average price of 7,556 yuan/mt, down 1.51%. Trading volume was 136,026 lots, and open interest decreased by 10,007 lots to 169,309 lots. In terms of fundamentals, the SiMn prices fell as the macro front weakened. Coupled with the decline in the costs, the futures prices of SiMn are unlikely to increase and will remain volatile in the short term.