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瑞达期货锰硅硅铁产业日报-20250428
Rui Da Qi Huo·2025-04-28 08:48

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Views - On April 28, the manganese - silicon 2509 contract closed at 5804, down 0.58%. The spot price of Inner Mongolia silicon - manganese was stable at 5700. The iron - alloy production profit is negative, and the downstream iron - water production may have peaked. Steel mills' procurement is cautious, and the market is expected to fluctuate. [2] - On April 28, the ferrosilicon 2506 contract closed at 5640, down 0.32%. The spot price of Ningxia ferrosilicon was stable at 5630. In the context of demand decline and market downturn, production cuts are a consensus in the industry. The demand for ferrosilicon is under pressure, and the market is expected to fluctuate. [2] 3. Summary by Directory 3.1 Futures Market - SM (manganese - silicon)主力合约收盘价 was 5804 yuan/ton, up 8 yuan; SF (ferrosilicon)主力合约收盘价 was 5648 yuan/ton, up 8 yuan. [2] - SM期货合约持仓量 was 616,978 hands, down 2565 hands; SF期货合约持仓量 was 396,352 hands, down 7765 hands. [2] - The SM9 - 5月合约价差 was 82 yuan/ton, up 4 yuan; the SF9 - 5月合约价差 was 82 yuan/ton, up 8 yuan. [2] - SM仓单 was 122,403 sheets, down 780 sheets; SF仓单 was 14,287 sheets, up 40 sheets. [2] 3.2 Spot Market - The price of Inner Mongolia manganese - silicon FeMn68Si18 was 5700 yuan/ton, unchanged; the price of Inner Mongolia ferrosilicon FeSi75 - B was 5710 yuan/ton, unchanged. [2] - The SM主力合约基差 was - 104 yuan/ton, down 8 yuan; the SF主力合约基差 was - 18 yuan/ton, down 8 yuan. [2] 3.3 Upstream Situation - The price of South African manganese ore (Mn38 block, Tianjin Port) was 32 yuan/ton - degree, unchanged; the price of silica (98%, Northwest) was 210 yuan/ton, unchanged. [2] - Manganese ore port inventory was 405.50 million tons, up 32.80 million tons. [2] 3.4 Industry Situation - The manganese - silicon enterprise开工率 was 41.59%, down 2.63 percentage points; the ferrosilicon enterprise开工率 was 30.91%, down 1.49 percentage points. [2] - Manganese - silicon supply was 186,060 tons, down 2555 tons; ferrosilicon supply was 98,900 tons, down 1400 tons. [2] - Manganese - silicon manufacturer inventory was 181,800 tons, up 24,200 tons; ferrosilicon manufacturer inventory was 83,600 tons, down 11,200 tons. [2] 3.5 Downstream Situation - The five - major steel types' demand for manganese - silicon was 126,749 tons, up 431 tons; the five - major steel types' demand for ferrosilicon was 20,560.40 tons, up 15.70 tons. [2] - The 247 - steel - mill高炉开工率 was 84.35%, up 0.77 percentage points; the 247 - steel - mill高炉产能利用率 was 91.62%, up 1.49 percentage points. [2] - The monthly crude steel output was 92.8414 million tons, up 16.8722 million tons. [2] 3.6 Industry News - China Iron and Steel Association official said production cuts are a consensus in the industry and need unified action. [2] - On April 25, mainstream coking enterprises proposed a second - round price increase of 50 - 55 yuan/ton. [2] - On April 24, South Korea imposed a four - month temporary anti - dumping duty on hot - rolled carbon or alloy steel plates from China, with a tax rate of 27.91 - 38.02%. [2] - During the May Day holiday, some Mongolian - Chinese border ports will be closed from May 1 - 3, and resume customs clearance on May 5. [2]