Report Summary 1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Report's Core View - On June 30, the silicon iron 2509 contract closed at 5344, down 0.89%. The spot price of silicon iron in Ningxia was reported at 5270, up 30 yuan/ton. With low - level operation of production, a decline in the price of semi - coke in Ningxia at the cost end, and overall weak steel demand expectations, attention should be paid to market sentiment disturbances under tariff policy changes. The production profit of ferroalloys is currently negative, with an Inner Mongolia spot profit of - 310 yuan/ton and a Ningxia spot profit of - 290 yuan/ton. Technically, the 4 - hour cycle K - line is between the 20 and 60 moving averages, and the market should be treated as oscillating [2]. - On June 30, the manganese silicon 2509 contract closed at 5642, down 0.74%. The spot price of manganese silicon in Inner Mongolia was reported at 5500. The manufacturer's operating rate has been rising for 6 consecutive weeks at a low level, and the overall inventory is still high. At the cost end, the port inventory of imported manganese ore increased by 0.9 million tons this period, and the downstream molten iron output is running at a high level. The steel mills' procurement is cautious, and the tender price continues to decline. The Inner Mongolia spot profit is - 130 yuan/ton, and the Ningxia spot profit is - 240 yuan/ton. Technically, the 4 - hour cycle K - line is between the 20 and 60 moving averages, and the market should be treated as oscillating [2]. 3. Summary According to Related Catalogs 3.1 Futures Market - Manganese Silicon (SM): The closing price of the SM main contract was 5642 yuan/ton, down 28 yuan; the futures contract position was 572,652 hands, down 10,293 hands; the net position of the top 20 was - 35,475 hands, up 3328 hands; the spread between the SM1 - 9 contracts was 32 yuan/ton, down 2 yuan; the number of warehouse receipts was 88,732, down 3267 [2]. - Silicon Iron (SF): The closing price of the SF main contract was 5344 yuan/ton, down 26 yuan; the futures contract position was 397,108 hands, down 4083 hands; the net position of the top 20 was - 54,042 hands, up 4735 hands; the spread between the SF1 - 9 contracts was - 16 yuan/ton, up 12 yuan; the number of warehouse receipts was 8322, up 1346 [2]. 3.2 Spot Market - Manganese Silicon: The price of FeMn68Si18 in Inner Mongolia was 5500 yuan/ton, in Guizhou was 5550 yuan/ton, and in Yunnan was 5500 yuan/ton, all unchanged. The weekly average of the manganese silicon index was 5490 yuan/ton, up 25 yuan. The basis of the main contract was - 142 yuan/ton, up 28 yuan [2]. - Silicon Iron: The price of FeSi75 - B in Inner Mongolia was 5280 yuan/ton, in Qinghai was 5170 yuan/ton, and in Ningxia was 5270 yuan/ton, all unchanged. The basis of the SF main contract was - 74 yuan/ton, up 26 yuan [2]. 3.3 Upstream Situation - Manganese Silicon: The price of South African Mn38 lump ore at Tianjin Port was 35 yuan/ton - degree, unchanged; the price of Inner Mongolia Wuhai secondary metallurgical coke was 850 yuan/ton, unchanged; the port inventory of manganese ore was 422.4 million tons, up 0.9 million tons [2]. - Silicon Iron: The price of silica (98%, Northwest) was 210 yuan/ton, unchanged; the price of semi - coke (medium material, Shenmu) was 640 yuan/ton, unchanged [2]. 3.4 Industry Situation - Manganese Silicon: The operating rate of manganese silicon enterprises was 39.21%, up 2.82%; the supply was 179,235 tons, up 2625 tons; the manufacturer's inventory was 221,800 tons, up 15,900 tons; the national steel mill inventory was 15.15 days, down 0.29 days; the demand of the five major steel types was 125,881 tons, up 2164 tons [2]. - Silicon Iron: The operating rate of silicon iron enterprises was 31.70%, down 0.99%; the supply was 97,500 tons, down 400 tons; the manufacturer's inventory was 69,400 tons, up 1400 tons; the national steel mill inventory was 15.20 days, down 0.24 days; the demand of the five major steel types was 20,354.2 tons, up 389.8 tons [2]. 3.5 Downstream Situation - The blast furnace operating rate of 247 steel mills was 83.84%, unchanged; the blast furnace capacity utilization rate was 90.85%, up 0.04%. The monthly crude steel output was 86.545 million tons, up 526,000 tons [2]. 3.6 Industry News - On June 28, the Zhejiang International Commodity Exchange was officially inaugurated in Zhoushan, marking the integration of domestic commodity spot trading resources by the former Zhejiang International Oil and Gas Exchange and its leap - forward expansion from a single oil and gas variety to more categories of commodities [2]. - Trump suddenly stopped trade talks with Canada, saying that Canada's new tax on US technology companies was a "blatant attack" and would set new tariff rates for Canadian goods within the next week [2]. - The Director - General of the International Atomic Energy Agency said that although several Iranian nuclear facilities were damaged in attacks by the US and Israel, Iran still had the ability to produce enriched uranium within a few months, calling on all parties to return to the negotiation table [2]. - In 2025, local government special bonds of 4.4 trillion yuan are planned to be arranged for stock acquisition, an increase of 500 billion yuan year - on - year, mainly used for investment construction, land acquisition, purchase of existing commercial housing, and settlement of local government arrears to enterprises [2]. - Russian President Putin said that Russia plans to cut military spending from next year, which contrasts sharply with NATO's plan to increase defense spending in the next 10 years [2].
瑞达期货锰硅硅铁产业日报-20250630
Rui Da Qi Huo·2025-06-30 10:47