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  SiMn futures fluctuate upward, price increase limited [SMM SiMn futures review]

  December 17 News: The SM2603 contract opened at 5,744 yuan/mt and closed at 5,758 yuan/mt, up 0.17%. The highest price during the daytime session was 5,776 yuan/mt, and the lowest was 5,732 yuan/mt. Trading volume reached 130,800 lots, with open interest at 276,107 lots. Today, futures fluctuated upward, rising at opening before declining. Cost side, although coke prices fell by 50 yuan/mt, easing some cost pressure, core raw material manganese ore prices remained firm. Supply side, alloy plants in the main northern production areas maintained stable operating rates, while those in south China operated at lower rates. Spot silicon manganese prices in production areas were below most enterprises' cost levels, putting significant pressure on producers and dampening willingness to offer retail quotations. Demand side, HBIS Group set its December SiMn price at 5,770 yuan/mt, down significantly from November's price of 5,820 yuan/mt. This price is below most enterprises' cost levels, exerting downward pressure on the SiMn alloy market.

• SMM Coal and Coke Daily Brief Review 20251217

  [SMM Coal and Coke Daily Brief] Supply side, multiple regions have reactivated orange alerts for heavy pollution, leading to forced production cuts at coke plants and a tightening of supply. However, coke plant shipments have been hindered, with inventory buildup still observed. Demand side, the market is in the off-season, end-use consumption remains weak, and environmental protection-related controls have intensified, resulting in increased blast furnace maintenance at steel mills and a reduction in daily average hot metal production. The rigid demand for coke has further decreased, with steel mills primarily purchasing as needed. Overall, coke prices remain under pressure, market sentiment is pessimistic, and the coke market may continue in the doldrums in the short term.

• [Announcement] Notice on the Adjustment of Rebar Benchmark Price in Kunming Market

  On December 16, 2025, multiple steel mills in Yunnan Province issued announcements regarding price adjustments for rebar

• [SMM Stainless Steel Daily Review] SS Futures Halted Declines and Recovered, While Weak Fundamentals Kept Stainless Steel Spot Prices Trading at Low Levels

• SHFE Lead Fluctuated Downward During the Day, Domestic Market Continued with Weak Supply and Demand [Lead Futures Brief Review]