库存占比 2025/12/5 本周库存 上周库存 出库 入库 变动 总 40497 3485361 3444864 531358 571855 ■加蓬 加蓬 288097 30100 174897 144797 8. 27% 143300 ■澳大利亚 澳大利亚 279726 D ■南非 306428 77578 50876 -26702 8. 03% ■加纳 南非 2275956 2265715 166336 204765 10241 65. 30% ■其他 加纳 510019 12. 81% 446519 63500 -63500 0 其他 219402 141317 -24339 195063 193844 5. 60% 600 550 500 450 400 350 300 250 == 天津港锰矿入库:合计:万吨 100 90 80 70 60 50 = FPA = 2 = 2 = 2 = 2 = 8 = 8 = 8 = 8 = 8 = 8 = 8 = 1 = 7 = 天津港锰矿出库:合计:万吨 65 55 45 35 25 下午夜之前 2019年 2017年 11月 2017 11:58 2017 ...

交易咨询资格号： 晨会纪要 2025 年 12 月 8 日 | | [Table_Finance] | | | | | | --- | --- | --- | --- | --- | --- | | 联系人：王竣冬 | 2025/12/8 | | 基于基本面研判 | | | | 期货从业资格：F3024685 | 趋势空头 | 震荡偏空 | 震 荡 | 震荡偏多 | 趋势多头 | | | | 玉米 | 工业硅 | 红枣 | | | 交易咨询从业证书号：Z0013759 | | 碳酸锂 | 沥青 | 上证50股指期货 | | | 研究咨询电话： | | 纸浆 锰硅 | 多晶硅 原油 | 玻璃 沪深300股指期货 | | | 0531-81678626 | | 焦炭 | 液化石油气 | 二债 | | | | | 焦煤 | 燃油 | 五债 | | | 客服电话： | | 甲醇 | 锌 | 三十债 | | | | | 塑料 | 合成橡胶 | 十债 | | | 400-618-6767 | | | 尿素 | | | | | | | 橡胶 | | | | 公司网址： | | | | | | | | | | 铅 | | | ...

黑色供应周报-铁合金 2025年12月5日 中泰期货研究所 黑色分析师:董雪珊 从业资格号:F3075616 交易咨询从业证书号 Z0018025 | | 罐 | | 万吨 | | | 健鉄 | 万吨 | | --- | --- | --- | --- | --- | --- | --- | --- | | 地区 | 周产 | 环比(吨) | 累计同比 | 地区 | 周产 | 环比(吨) | 累计同比 | | 全国 | 18.80 | (6825) | (14.21) | 全国 | 10.88 | 1540 | 2.07 | | 内蒙古 | 9.67 | (910) | 0.16 | 内蒙古 | 3.80 | 0 | 4.06 | | 宁夏 | 4.19 | (1505) | 12.71 | 宁夏 | 2.72 | 1050 | 10.27 | | 广西 | 0.95 | (1260) | 0.00 | 陕西 | 1.89 | 490 | (0.06) | | 贵州 | 1.21 | (2800) | (16.45) | 青海 | 1.39 | 0 | (12.85) | | 云南 | 0.68 | (560 ...

Report Industry Investment Ratings No relevant information provided. Core Views of the Report - The overall market shows complex trends, with different sectors having their own characteristics. Some sectors are affected by policy expectations, supply - demand relationships, and cost factors, while others are influenced by geopolitical and macro - economic factors. For example, the steel and ore market is expected to be weak in the medium - long term, while the LPG market is currently strong but may not be sustainable [10][43]. Summary by Relevant Catalogs 1. Based on Fundamental and Quantitative Indicators - **Fundamental Analysis**: Some commodities are judged as trend空头 (such as烧碱), some as震荡偏空, 震荡, 震荡偏多, and trend多头. For example,烧碱 is in a trend - bearish state, while中证1000指数期货 is in an oscillating and bullish - biased state [2]. - **Quantitative Analysis**: Some commodities are classified as偏空 (e.g.,沪锌), 震荡 (e.g.,沪金), and偏多 (e.g.,焦煤) based on technical indicators such as volume and price [4]. 2. Macro - financial - **Stock Index Futures**: Adopt an oscillating strategy and temporarily wait and see. A - share market shows differentiation, with the Shanghai Composite Index down 0.06% at 3875.79 points, the Shenzhen Component Index up 0.4%, and the ChiNext Index up 1.01%. The trading volume is 1.56 trillion yuan. The Fed's interest - rate cut expectation is further heating up [7]. - **Treasury Bond Futures**: The bond market may continue to have a wide - range oscillating trend. Pay attention to the curve steepening in the medium term. The capital is loose, and the bond market has been falling, with the long - end driving the short - end interest - rate curve to become steeper [9]. 3. Black Commodities - **Steel and Ore**: In the short term, they will oscillate and consolidate, and in the medium - long term, maintain a bearish view when the price is high. The demand for building materials is weak, and the steel mills' profits are at a low level. The iron ore is relatively strong, while the raw materials such as coal and coke are weak [10]. - **Coal and Coke**: In the short term, they may oscillate and consolidate. Pay attention to the impact of coal - mine production, safety supervision, and changes in downstream molten - iron output [11]. - **Ferroalloys**: Silicon iron is stronger than manganese silicon. It is recommended to hold the long - silicon - iron and short - manganese - silicon position. For silicon iron, hold the long position, and for manganese silicon, maintain a bearish view when the price is high [14]. 4. Soda Ash and Glass - **Soda Ash**: Wait and see. The supply has recovered, but the upstream's willingness to start production has weakened after the cost increase. - **Glass**: In the short term, try to go long when the price is low, and leave the market flexibly when the sentiment changes. The market expects an increase in cold - repair of the supply side, and pay attention to the implementation of cold - repair plans [15]. 5. Non - ferrous Metals and New Materials - **Zinc**: The inventory has decreased, and the price is expected to oscillate widely. It is advisable to wait and see, and aggressive investors can short at high prices [17]. - **Lead**: The social inventory has decreased to a 15 - month low. It is recommended to wait and see and hold short positions cautiously [19]. - **Lithium Carbonate**: In the short term, it will oscillate widely. The supply is increasing, and the demand is slightly weakening, but the long - term demand is good [21]. - **Industrial Silicon and Polysilicon**: Industrial silicon will continue to oscillate, and it is possible to sell out - of - the - money put options at low prices. Polysilicon will also oscillate, and it is advisable to wait and see and operate cautiously [22]. 6. Agricultural Products - **Cotton**: The supply pressure is large in the short term, and the demand has not fully recovered. The high cost supports the price to oscillate and rebound [24]. - **Sugar**: The domestic and international sugar markets are under pressure. The domestic new - crop production is increasing, and the import cost is low. It is advisable to wait and see or short in the short term [25]. - **Eggs**: For the near - month contracts, adopt an oscillating strategy. The 01 contract is recommended to stop loss and wait and see. The far - month contracts are supported by the expectation of a possible shortage in inventory but are under pressure at the current high valuation [26]. - **Apples**: The price will oscillate. The出库 volume has slightly decreased recently, and the spot price is stable [27]. - **Corn**: The short - term 01 contract will maintain a high - level oscillation, and the far - month contracts are likely to be weak [29]. - **Red Dates**: Temporarily wait and see. The prices in the production and sales areas are stable [30]. - **Pigs**: In the short term, the supply pressure is increasing, and the demand is limited. Hold short positions in the near - month contracts. In the long term, the decline in the number of breeding sows is beneficial to the future pig price [31]. 7. Energy and Chemicals - **Crude Oil**: Although there is short - term support, it is in a long - term downward trend. The supply - demand relationship is expected to be oversupplied, and the short - term upward space is limited [33]. - **Fuel Oil**: The price will follow the oil price. The supply is loose, and the demand is flat. The short - term focus is on the geopolitical influence [34]. - **Plastic**: The supply pressure is large, and it will oscillate weakly. It is recommended that industrial customers hedge in time [35]. - **Rubber**: The ru - nr spread may weaken from mid - December to January. Unilaterally, wait and see [36]. - **Synthetic Rubber**: After the sentiment fades, it will oscillate. Be cautious about chasing up or down, and wait and see unilaterally [37]. - **Methanol**: The near - month contracts will oscillate weakly, and the far - month contracts may be slightly bullish if the inventory is removed smoothly [38]. - **Caustic Soda**: In the short term, maintain a bearish and oscillating view, and avoid going long in the near - month contracts [39]. - **Asphalt**: The price fluctuation is expected to increase, and the focus is on the price bottom after the winter - storage game [40]. - **Polyester Industry Chain**: The supply - demand structure is generally stable, and the price is mainly determined by the cost. Pay attention to the interval opportunities of long TA and short PF and ethylene glycol reverse arbitrage [41]. - **Liquefied Petroleum Gas**: The price increase is difficult to sustain. It is recommended to short at high prices [43]. - **Paper Pulp**: Temporarily wait and see. When the delivery profit is obvious, long positions can take profit appropriately [44]. - **Logs**: The fundamentals are weakly oscillating, and the price is under pressure [44]. - **Urea**: The spot price is expected to oscillate strongly, and the futures market is sensitive to the short - term spot trading sentiment. Adopt an intraday oscillating strategy [45].

交易咨询资格号： 证监许可[2012]112 晨会纪要 2025 年 12 月 4 日 | | [Table_Finance] | | | | | | --- | --- | --- | --- | --- | --- | | 联系人：王竣冬 | 2025/12/4 | | 基于基本面研判 | | | | 期货从业资格：F3024685 | 趋势空头 | 震荡偏空 | 震 荡 | 震荡偏多 | | | 交易咨询从业证书号：Z0013759 | | | | | 趋势多头 | | | | 碳酸锂 | 纯碱 | 纸浆 | | | 研究咨询电话： | | 短纤 | 液化石油气 | 玻璃 | | | 0531-81678626 | | PTA | 沪深300股指期货 | 玉米 | | | | | 橡胶 | 原油 | 尿素 | | | 客服电话： | | 合成橡胶 | 铅 | 苹果 | | | 400-618-6767 | | 乙二醇 | 中证500股指期货 | | | | | | 对二甲苯 | 上证50股指期货 | | | | 公司网址： | | 瓶片 | 中证1000指数期货 | | | | www.ztqh.com ...

交易咨询资格号： 证监许可[2012]112 晨会纪要 2025 年 12 月 3 日 | | [Table_Finance] | | | | | | --- | --- | --- | --- | --- | --- | | 联系人：王竣冬 | 2025/12/3 | | 基于基本面研判 | | | | 期货从业资格：F3024685 | 趋势空头 | 震荡偏空 | 震 荡 | 震荡偏多 | 趋势多头 | | 交易咨询从业证书号：Z0013759 | | | | | | | | | 多晶硅 | 中证500股指期货 | 碳酸锂 | | | 研究咨询电话： | | 合成橡胶 | 上证50股指期货 | 白糖 | | | 0531-81678626 | | 纸浆 | 中证1000指数期货 | 棉花 | | | | | 铅 | 棉纱 | | | | 客服电话： | | 沥青 | 沪深300股指期货 | | | | 400-618-6767 | | 锌 | 二债 | | | | | | 燃油 | 烧碱 | | | | 公司网址： | | | | | | | | | 液化石油气 | 橡胶 | | | | www.ztqh ...

Report Industry Investment Ratings No relevant content provided. Core Views of the Report - A shares showed a unilateral upward trend, with technology themes being active and sector rotation accelerating. The overall economy has short - term fluctuations, but the domestic industrial upgrade - driven economic transformation continues. [10] - In the futures market, different varieties have different trends based on fundamental and quantitative indicators. For example, some are in a trend of short - term shock, while others are in a long - term upward or downward trend. [2][4] Summary by Related Catalogs Macro Information - French President Macron will visit China from December 3 - 5. DeepSeek released and open - sourced two models. The approval of public - offering funds has an inverse - cycle adjustment mechanism. [6] - In November, the average price of new homes in 100 cities increased month - on - month and year - on - year, while the average price of second - hand homes decreased month - on - month and year - on - year. Shanghai's second - hand housing market had a "tail - end rally". [6][7] - The US ISM manufacturing PMI in November was below 50. The Bank of Japan governor signaled a possible interest - rate hike. South Korea's exports in November increased year - on - year. Silver prices soared to a record high. [7][8] Macro Finance Stock Index Futures - Adopt a shock - based strategy and wait and see for the time being. A shares rose unilaterally, with technology themes being active. The economic data in October showed a short - term decline, but the industrial upgrade is continuing. [10] Treasury Bond Futures - The bond market may continue to fluctuate widely. The market is affected by factors such as expected central bank bond - buying and bond - fund redemptions. It is recommended to buy medium - and short - duration 10 - year bonds on dips and be cautious about ultra - long - duration bonds. [11][12] Black Commodities Spiral Steel and Iron Ore - Pay attention to the impact of macro - level meetings on market expectations. The demand for building materials is weak, while the demand for coils is okay. Steel mills' profits are low, and iron ore is relatively strong. The price is expected to be weak in the medium - term. [13] Coking Coal and Coke - The prices may fluctuate in the short term. Pay attention to the impact of coal - mine production, safety inspections, and changes in iron - water production. [13][14] Ferroalloys - For manganese silicon, there is a risk of increased surplus, and it is recommended to wait for short - selling opportunities. For silicon iron, it is recommended to hold long positions. [15] Soda Ash and Glass - For soda ash, wait and see. For glass, it is advisable to try to go long on dips. Pay attention to supply - side changes such as production cuts and new - capacity launches. [16] Non - ferrous Metals and New Materials Zinc - The inventory has decreased, and the price is expected to fluctuate widely. It is advisable to wait and see, and aggressive investors can short on rallies. [18] Lead - The inventory is at a low level. It is recommended to hold short positions cautiously. [19][20] Lithium Carbonate - In the short term, it will fluctuate widely. The long - term demand is good, but the short - term upward space is limited. [21] Industrial Silicon - The supply - demand contradiction is not prominent, and it will continue to fluctuate. [22] Polysilicon - It will continue to fluctuate. It is advisable to try to buy put options in the short term and stop profits in time. [23] Agricultural Products Cotton - There is short - term supply pressure and weak demand, but the high cost supports the price. The price is expected to rebound. [25][26] Sugar - The supply - demand situation is bearish. The new - sugar listing pressure weighs on the price, and it is advisable to wait and see or short in the short term. [27][28] Apples - The price is expected to fluctuate strongly. The purchase of late - maturing Fuji has ended, and the market is affected by factors such as inventory and competing fruits. [29] Corn - Pay attention to the upper pressure on the price. The current rise is due to "supply - demand mismatch", and the long - term supply pressure is large. [30] Red Dates - It is advisable to wait and see for the time being. The prices in production and sales areas are stable at a low level. [31] Pigs - In the short term, the supply pressure increases, and the demand is limited. In the long term, the decline in the number of sows is beneficial to future prices. [32][33] Energy and Chemicals Crude Oil - The price is in a long - term downward trend. Although there are short - term positive factors, the supply - surplus problem is prominent. [35] Fuel Oil - The price will follow the trend of crude oil, with supply being loose and demand being weak. [36] Plastics - The supply pressure is large, and the price is expected to fluctuate weakly. It is advisable to adopt a short - selling strategy after rallies. [37][38] Rubber - The price is expected to fluctuate. Pay attention to factors such as raw - material supply and weather. [39] Synthetic Rubber - It is expected to fluctuate weakly in the short term. It is advisable to short on rallies. [40] Methanol - In the short term, use a shock - based strategy for near - month contracts and a slightly bullish strategy for far - month contracts if inventory reduction is smooth. [41][42] Caustic Soda - The spot price is weakening. It is advisable to adopt a short - term weakly bearish strategy. [43][44] Asphalt - The price fluctuation is expected to increase. Pay attention to the price bottom after the winter - storage game. [45] Polyester Industry Chain - The supply - demand structure is okay, and it will follow the cost trend in the short term. [46] Liquefied Petroleum Gas - The price increase is difficult to sustain. It is advisable to short on rallies. [47] Pulp - The fundamentals are stable, and it will enter a range - bound stage. It is advisable to wait and see. [48] Logs - The price is under pressure in the short term and is expected to maintain a weak supply - demand balance. [49] Urea - The spot price is expected to be slightly bullish, and the futures price is expected to fluctuate in the short term. [50]

宏微观共振下铜价突破上行 沪铜周度报告·2025年12月01日 姓名：安冉 从业资格号：F3049294 交易咨询证书号：Z0017020 姓名：王海聪 从业资格号：F03101206 交易咨询证书号：Z0022465 联系人：陈天敏 从业资格号：F03134700 目 录 01 周度综述：宏观/周度数据/多空逻辑/风险提示 02 铜产业链解析：价格/价差/成本/利润/供给/需求/库存 CONTENTS 资金持仓：外盘持仓CFTC/LME 03 Part 01 周度综述 ➢ 周度综述（11.24-11.28） ➢ 本页数据为2025.11.24-2025.11.28日期内周度数据对比 | | 项目 | | | | | 周度数据 | | --- | --- | --- | --- | --- | --- | --- | | | | 上期 | 当期 | 环比 | 环比率 | 综述 | | | 铜精矿现货TC（美元/ 吨） | -42.32 | -42.75 | -0.43 | -1.02% | 本周铜精矿现货成交较为冷清，现货TC小幅下行，市场重点仍聚焦与长单谈判。 | | 供给端 | 精废价差（元/吨） | 2 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The report provides market trend judgments and investment suggestions for various commodities, including macro - financial, black, non - ferrous, agricultural, and energy - chemical sectors. It analyzes the current situation, influencing factors, and future trends of each commodity, aiming to help investors make decisions [2][3][13][14]. Summary by Directory Macro Information - Politburo meetings focus on central inspections and network ecological governance. The official manufacturing PMI in November was 49.2, and the non - manufacturing business activity index was 49.5%, down 0.6 percentage points from the previous month. The central bank cracks down on virtual currency trading, and the Ministry of Finance releases state - owned enterprise revenue and profit data. The China Securities Regulatory Commission solicits opinions on regulatory measures, and the Ministry of Industry and Information Technology promotes battery industry governance and satellite IoT business trials. The National Space Administration establishes a commercial space department, and six major state - owned banks withdraw 5 - year large - denomination certificates of deposit. The real estate TOP100 enterprises' land acquisition increased by 14.1% year - on - year from January to November [7][8][9]. Macro - Financial Stock Index Futures - Adopt an oscillatory approach and wait and see. In November, stock indices fell, and the market turnover reached a 4 - month low. Industrial enterprise data showed a short - term decline in October, but there were highlights in the equipment and high - tech manufacturing industries. The manufacturing and non - manufacturing PMIs in November were below expectations and in the contraction range [13]. Treasury Bond Futures - The bond market may continue to fluctuate widely. The recent sharp decline of bonds was affected by the redemption of public bond funds. For 10 - year medium - short - duration bonds, consider buying on dips, and be cautious with ultra - long - duration bonds. Pay attention to the central bank's bond - buying scale [14]. Black Coal and Coke - The prices of coking coal and coke may continue to oscillate weakly in the short term. Coal production may be restricted by safety supervision and environmental protection at the end of the year, but short - term supply may increase, and potential negative feedback risks from weak steel demand still exist [16]. Ferroalloys - In early December, focus on the settlement electricity fees in Ningxia and Inner Mongolia. Silicon iron plants may have a higher probability of production cuts. It is recommended to go long on silicon iron in the medium term and wait and see on manganese silicon [17]. Non - Ferrous and New Materials Shanghai Zinc - As of November 27, domestic zinc inventories decreased. It is recommended to hold short positions at high levels or take profits and operate cyclically. Zinc prices have been fluctuating, with short - term support from falling processing fees, but downstream procurement is still cautious [22]. Shanghai Lead - As of November 27, lead inventories decreased. It is recommended to hold short positions cautiously. The supply of lead is regionally tight, and the production enthusiasm of secondary lead enterprises has declined [23]. Lithium Carbonate - In the short term, it will fluctuate widely. Although the medium - to - long - term demand is good, the recent fundamental weakening limits the upward space. The concentrated cancellation of warehouse receipts at the end of the month is beneficial to the market, but the policy may have a negative impact [24]. Industrial Silicon and Polysilicon - Both will continue to oscillate. Industrial silicon has limited downward adjustment space due to potential environmental protection impacts on supply. Polysilicon has a strong willingness of upstream to support prices, but weak supply - demand contradictions limit the upward movement [26]. Agricultural Products Cotton - Zhengzhou cotton may oscillate and rebound due to high costs and a strong basis, but the supply pressure is large, and the demand is weak. The USDA's November report was negative for cotton, and domestic cotton inventories are accumulating [28][29]. Sugar - Domestic sugar prices are under pressure from new sugar supply, but cost support limits the decline. Globally, there is an expected surplus of sugar in the 2025/26 season [30]. Eggs - The near - term 01 contract may oscillate. There is an expectation of price increase before the Spring Festival, but the increase may be limited. The far - term contracts may be strong due to the expected decline in inventory, but be cautious about chasing high prices [32][33]. Apples - The price trend is expected to be oscillatory and slightly strong. The apple storage is almost finished, and the inventory is lower than last year. The trading in the production areas has slowed down, and the sales in the consumer areas are affected by citrus [34][35]. Corn - The 01 contract may oscillate at a high level in the short term, but the upward momentum may weaken. The far - term contracts may be weaker due to potential supply pressure [36]. Red Dates - It is recommended to wait and see. The prices in the production and sales areas are stable at a low level, and the futures market is weak [37][38]. Live Pigs - In the short term, the supply pressure is increasing, and the demand is average. It is recommended to go short on the near - term contracts at high prices. In the long term, the decline in the number of breeding sows is beneficial to future pig prices [38][39]. Energy - Chemical Crude Oil - The price is oscillating. The market is trading around geopolitical conflicts. If a cease - fire agreement is reached, the geopolitical premium may fade. OPEC+ may continue to suspend production increases, but it is difficult to reverse the supply surplus [41]. Fuel Oil - The price follows the trend of crude oil. The supply is loose, and the demand is weak. The short - term focus is on geopolitical factors [42]. Plastics - Polyolefins may oscillate weakly due to high supply pressure and weak demand. Although the upstream is losing money, there is no strong driving force for a sharp rise [43][44]. Rubber - The price may be oscillatory and slightly strong in the short term. Pay attention to the impact of Southeast Asian weather on supply. It is recommended to sell out - of - the - money put options or buy call options [45]. Synthetic Rubber - It is recommended to sell call options at high prices or go short. The raw material may continue to decline, and the price may be under pressure after the restart of maintenance devices [46]. Methanol - Near - term contracts should be treated with an oscillatory approach, and far - term contracts can also be oscillatory. If inventory reduction is smooth, a slightly long - biased configuration can be considered [47]. Caustic Soda - Maintain an oscillatory approach. The spot price is falling, and the fundamentals have not improved significantly [48]. Asphalt - The price fluctuation may increase. The focus is on the price bottom after the winter storage game. The real - time demand is ending, and the winter storage has not started [49]. Polyester Industry Chain - The current supply - demand structure is okay, and the price may be strong in the short term due to rising oil prices, but the upward driving force is weakening [50]. Liquefied Petroleum Gas - The price increase may not be sustainable. Be cautious about chasing high prices. The supply is regionally mismatched, and the demand side may form a negative feedback [51]. Pulp - It is expected to enter an oscillatory range. It is recommended to wait and see. Options can be used for cost - reduction, efficiency - improvement, or hedging [53]. Logs - The fundamentals are oscillatory and weak. The inventory may start to accumulate, and the price is expected to be under pressure [53]. Urea - The spot price may be oscillatory and strong, and the futures market may have short - term emotional trading. Adopt a short - term intraday long approach [54].

Report Information - Report Title: Black Supply Weekly Report - Ferroalloys [1] - Date: November 28, 2025 [2] - Research Institute: Zhongtai Futures Research Institute [2] - Analyst: Dong Xueshan [2] - Qualification Number: F3075616 [2] - Trading Consultation Certificate Number: Z0018025 [2] Key Data - Weekly Production Silicomanganese - National Weekly Production: 19.48 million tons, a decrease of 2,135 tons from the previous week, with a cumulative year - on - year decrease of 13.26% [3] - Inner Mongolia: 9.77 million tons, an increase of 210 tons from the previous week, with a cumulative year - on - year increase of 0.71% [3] - Ningxia: 4.34 million tons, a decrease of 1,190 tons from the previous week, with a cumulative year - on - year increase of 13.20% [3] - Guangxi: 1.07 million tons, unchanged from the previous week, with a cumulative year - on - year decrease of 0.44% [3] - Guizhou: 1.49 million tons, an increase of 945 tons from the previous week, with a cumulative year - on - year decrease of 16.35% [3] - Yunnan: 0.74 million tons, a decrease of 1,890 tons from the previous week, with a cumulative year - on - year increase of 13.59% [3] - Other Regions: 2.07 million tons, a decrease of 210 tons from the previous week, with a cumulative year - on - year decrease of 23.98% [3] Ferrosilicon - National Weekly Production: 10.72 million tons, a decrease of 1,050 tons from the previous week, with a cumulative year - on - year increase of 3.22% [3] - Inner Mongolia: 3.80 million tons, a decrease of 490 tons from the previous week, with a cumulative year - on - year increase of 4.06% [3] - Ningxia: 2.61 million tons, unchanged from the previous week, with a cumulative year - on - year increase of 10.44% [3] - Shaanxi: 1.84 million tons, unchanged from the previous week, with a cumulative year - on - year increase of 0.05% [3] - Qinghai: 1.39 million tons, unchanged from the previous week, with a cumulative year - on - year decrease of 12.30% [3] - Gansu: 0.98 million tons, a decrease of 560 tons from the previous week, with a cumulative year - on - year increase of 10.98% [3] - Other Regions: 0.01 million tons, a decrease of 1 ton from the previous week, with a cumulative year - on - year increase of 0.00% [3] Data Notes - Steel Union terminal update date is every Thursday, and the data display date is Friday of the current week [6] - Data Source: Mysteel; compiled by Zhongtai Futures [6]