硅铁：宁夏大厂复产 成本或仍有下移空间

Supply - The operating rate of 136 independent silicon iron enterprises is 30.44%, an increase of 0.02% compared to the previous period [3] - The average daily output is 12,140 tons, a decrease of 560 tons from the previous period, with a weekly production of 84,900 tons [3] Demand - Weekly demand for five major steel types of silicon iron is 20,574.5 tons, a decrease of 0.61% compared to last week [4] - Total production of five major materials is 8.8085 million tons, an increase of 84,100 tons, while total inventory is 13.656 million tons, a decrease of 32.94% [4] - Social inventory is 9.3254 million tons, down 28.02%, and factory inventory is 433.06 thousand tons, down 4.92% [4] - The price of magnesium remains stable, with weak downstream demand and poor purchasing sentiment [4] Cost and Profit - The production cost in Inner Mongolia is 5,476 yuan/ton, while in Qinghai it is 5,520 yuan/ton, and in Ningxia it is 5,427 yuan/ton [2] - The profit margins are negative, with Inner Mongolia at -226 yuan/ton and Ningxia at -147 yuan/ton [2] Market Outlook - The main contract for silicon iron futures has rebounded due to rising coal costs [5] - Supply pressure is easing due to previous production cuts, but overall inventory remains at a medium-high level [5] - Recent resumption of production in several large factories in Ningxia is increasing supply and putting downward pressure on prices [5] - The demand for magnesium remains weak, with low domestic purchasing sentiment and fewer overseas inquiries [5] - The outlook suggests limited supply-demand conflicts, but increased supply may heighten pressure [5]