基本面供需双弱配合不足 硅铁延续底部震荡

Core Insights - Silicon iron spot prices remained stable, with 72 silicon iron priced at 5100-5200 RMB/ton and 75 silicon iron priced at 5600-5700 RMB/ton [1] - On December 18, the main contract for silicon iron futures closed at 5592.00 RMB/ton, with a daily increase of 1.23% [2] - The trading volume for silicon iron futures reached 295,666 contracts on the same day [2] Price Overview - In the Ningxia region, various suppliers listed 75 silicon iron at prices ranging from 5200 to 5300 RMB/ton [2] - Specific suppliers include Ningxia Xuan Tie Supply Chain Group, Daya Smelting, and Sanyuan Zhongtai Metallurgy, all offering competitive pricing [2] Market Dynamics - As of December 17, the number of silicon iron futures warehouse receipts decreased by 96 contracts compared to the previous trading day [3] - A major factory in Gansu has begun transitioning production lines, indicating shifts in supply dynamics [3] Supply and Demand Analysis - The supply side is under pressure due to rising electricity costs leading to increased losses for companies, with some manufacturers in Qinghai initiating maintenance [4] - Demand is also facing challenges, as steel inventory is decreasing but both steel production and apparent demand are declining [4] - Overall, the market is expected to continue experiencing bottom-level fluctuations due to weak supply and demand fundamentals [4]