锰硅产量抬升至较高水平 短期内预计盘面偏弱震荡

News Summary Core Viewpoint - The manganese market is experiencing fluctuations in supply and demand, with a notable decrease in manganese ore shipments from Gabon and an increase in silicon-manganese inventory among independent producers, indicating potential challenges in the market dynamics [1][3]. Supply and Inventory - Gabon's manganese ore shipments fell to 47,700 tons, while Australian ore supply has increased, leading to a slight decrease in port manganese inventory to 4.27 million tons, down by 250,000 tons [1]. - The inventory of 63 independent silicon-manganese producers reached 233,800 tons, a month-on-month increase of 34,900 tons, marking a 17-month high. The Ningxia region saw the most significant increase, with inventory rising by 30,600 tons to 169,000 tons [1]. Profitability - Current spot profits for silicon-manganese in Inner Mongolia are at -80 yuan/ton, while in Ningxia, they are at -190 yuan/ton. Hebei Steel Group set the final pricing for silicon-manganese at 6,000 yuan/ton, a decrease of 200 yuan/ton from the previous month [1]. Demand and Market Dynamics - New Lake Futures noted a decrease in silicon-manganese operating rates and weekly production, but iron output is gradually increasing, aligning with seasonal demand expectations. However, the actual demand for silicon-manganese remains uncertain, with ongoing inventory accumulation and weak spot market transactions [3]. - Guotou Anxin Futures reported that iron output has risen above 241, and silicon-manganese production continues to increase without significant inventory accumulation. Manganese ore prices have seen a slight uptick, and the market is advised to consider buying on dips due to a potential upward price correction [4].