Futures Market Exhibits Sideways Movement, Observing Post-Holiday Downstream Demand [SMM Manganese Silicon Futures Review]
[SMM SiMn Alloy Futures Review: Sideways Movement in Futures Market, Observing Post-Holiday Downstream Demand]
The SM2505 contract opened at 6,880 yuan/mt, experienced sideways movement in the morning session, and finally closed at 6,788 yuan/mt, down 0.47%. The daily high was 6,880 yuan/mt, and the low was 6,704 yuan/mt. Trading volume reached 322,308 lots, with open interest at 426,846.
Raw material side, port manganese ore inventory remained at low levels, and spot prices stayed stable. Spot side, post-holiday SiMn alloy plants mostly maintained normal production, with quotations holding steady at pre-holiday levels, while downstream steel mills showed weak purchasing enthusiasm.
February 5 News: The SM2505 contract opened at 6,880 yuan/mt, experienced sideways movement in the morning session, and finally closed at 6,788 yuan/mt, down 0.47%. The daily high was 6,880 yuan/mt, and the low was 6,704 yuan/mt. Trading volume was 322,308 lots, and open interest was 426,846.
Raw material side, port manganese ore inventory remained at low levels, and spot prices were temporarily stable. Spot side, post-holiday SiMn alloy plants mostly maintained normal production, with quotations staying at pre-holiday levels, while downstream steel mills showed weak purchasing enthusiasm.
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