Downstream Demand Support Remains Weak, Spot Prices Slightly Decline [SMM Manganese Silicon Futures Review]
[SMM SiMn Alloy Futures Review: Weak Downstream Demand Support, Spot Prices Decline Slightly]
The SM2505 contract opened at 6,330 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,358 yuan/mt, down 0.44%. The daily high was 6,364 yuan/mt, and the low was 6,306 yuan/mt. Trading volume reached 206,329 lots, with an open interest of 415,108.
Raw material side, influenced by rising overseas market offers, miners slightly raised their quotes, but actual transactions followed slowly. High-grade manganese oxide ore prices rose slightly, and cost support weakened the willingness of alloy plants to sell at low prices. However, the supply surplus of SiMn alloy persists, and downstream steel mills continue to press prices for SiMn purchases, leading to a slight decline in SiMn spot prices.
March 11 News: The SM2505 contract opened at 6,330 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,358 yuan/mt, down 0.44%. The daily high was 6,364 yuan/mt, and the low was 6,306 yuan/mt. Trading volume reached 206,329 lots, and open interest stood at 415,108. On the raw material side, influenced by rising overseas market offers, miners slightly raised their quotes, but actual transactions followed slowly. High-grade manganese oxide ore prices rose slightly, with cost support affecting alloy plants' weak willingness to sell at low prices. However, the supply surplus of SiMn alloy persists, and downstream steel mills continue to press prices for SiMn purchases, leading to a slight decline in SiMn spot prices.
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