周度产量小幅下降 锰硅期货盘面以震荡偏强为主

News Summary Core Viewpoint - The overall market for silicon manganese is showing signs of slight recovery, with production rates and prices experiencing minor increases, while inventory levels remain a concern for manufacturers [1][4][5]. Group 1: Production and Operational Data - The operating rate of 187 independent silicon manganese enterprises nationwide was reported at 36.78%, an increase of 1.17% from the previous week [1]. - Daily average production reached 27,510 tons, reflecting a week-on-week increase of 620 tons [1]. - A silicon manganese alloy plant in Inner Mongolia has ignited a 66,000 KVA furnace, expected to produce approximately 400 tons per day in about two weeks [2]. Group 2: Market Trends and Inventory - The Zhengzhou Commodity Exchange recorded 23,277 manganese silicon futures warehouse receipts, a decrease of 187 from the previous trading day, with a total decline of 374 receipts over the past week, representing a 1.58% drop [2]. - Over the past month, manganese silicon futures warehouse receipts have increased by 2,088, marking a growth of 9.85% [2]. - The current market for silicon manganese is characterized by a slight upward trend in spot prices, with manufacturers showing a strong cost support but still facing inventory pressure [4]. Group 3: Price Dynamics and Demand - The manganese ore market is experiencing a structural inventory issue, leading to a fragile balance, while the demand for lower-cost semi-carbonate ore is expected to rise due to changes in the smelting process [5]. - Seasonal declines in pig iron production are noted, alongside a slight decrease in weekly silicon manganese output and inventory [5]. - The recommendation for market participants is to consider buying on dips, as the market shows potential for recovery [5].