Futures Market Fluctuates Upward as Post-Holiday Market Remains Cautious [SMM Manganese Silicon Futures Review]
[SMM SiMn Alloy Futures Review: Futures Market Fluctuated Upward, Post-Holiday Market Remains in Wait-and-See Mode]
The SM2505 contract opened at 6,090 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,118 yuan/mt, up by 0.79%. The daily high was 6,150 yuan/mt, and the low was 6,084 yuan/mt. Trading volume reached 109,131 lots, and open interest stood at 330,074 lots.
Raw material side, post-holiday manganese ore market purchases were cautious, with Gabonese ore prices remaining relatively firm, while overall manganese ore spot prices remained stable.
Spot side, post-holiday SiMn alloy downstream steel mills were cautious in procurement, mostly adopting a wait-and-see approach. Attention should still be paid to the release of downstream demand after the holiday and the actual manganese ore purchasing activities by alloy plants.
January 2 News: The SM2505 contract opened at 6,090 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,118 yuan/mt, up 0.79%. The highest price of the day was 6,150 yuan/mt, and the lowest was 6,084 yuan/mt. Trading volume was 109,131 lots, and open interest was 330,074. On the raw material side, post-holiday manganese ore market purchases were cautious, with Gabon ore prices remaining relatively firm, while overall manganese ore spot prices were stable. On the spot side, post-holiday SiMn alloy downstream steel mill purchases were cautious, with most adopting a wait-and-see attitude. Attention is still needed on the release of post-holiday downstream demand and the actual manganese ore purchases by alloy plants.
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