瑞达期货锰硅硅铁产业日报-20250805

Report Overview - The report is a daily report on the manganese silicon and ferrosilicon industries dated August 5, 2025 [1] Report Industry Investment Rating - Not provided Core Viewpoints - On August 5, the SM2509 contract closed at 6018, up 0.94%. The spot price of Inner Mongolia ferromanganese was reported at 5800, up 20 yuan/ton. The ferrosilicon 2509 contract closed at 5716, up 1.03%, and the spot price of Ningxia ferrosilicon was reported at 5550. The ferrous alloy currently has negative production profit. Technically, the 4-hour cycle K-line is between the 20 and 60 moving averages, and the operation should be treated as a shock. [2] Data Summary Futures Market - SM main contract closing price: 6018 yuan/ton, up 46 yuan; SF main contract closing price: 5716 yuan/ton, up 42 yuan [2] - SM futures contract holding volume: 612,782 lots, up 7945 lots; SF futures contract holding volume: 424,431 lots, up 13,926 lots [2] - Manganese silicon top 20 net positions: -89,515 lots, up 284 lots; Ferrosilicon top 20 net positions: -34,851 lots, up 2015 lots [2] - SM 1 - 9 month contract spread: 92 yuan/ton, up 6 yuan; SF 1 - 9 month contract spread: 140 yuan/ton, down 2 yuan [2] - SM warehouse receipts: 77,295, down 316; SF warehouse receipts: 21,930, unchanged [2] Spot Market - Inner Mongolia manganese silicon FeMn68Si18: 5800 yuan/ton, up 20 yuan; Inner Mongolia ferrosilicon FeSi75 - B: 5650 yuan/ton, up 20 yuan [2] - Guizhou manganese silicon FeMn68Si18: 5800 yuan/ton, down 50 yuan; Qinghai ferrosilicon FeSi75 - B: 5430 yuan/ton, down 30 yuan [2] - Yunnan manganese silicon FeMn68Si18: 5800 yuan/ton, unchanged; Ningxia ferrosilicon FeSi75 - B: 5550 yuan/ton, unchanged [2] - Manganese silicon index average: 5837 yuan/ton, up 149 yuan; SF main contract basis: -166 yuan/ton, down 42 yuan [2] - SM main contract basis: -218 yuan/ton, down 26 yuan [2] Upstream Situation - South African ore: Mn38 block: Tianjin Port: 34 yuan/ton degree, unchanged; Silica (98% Northwest): 210 yuan/ton, unchanged [2] - Inner Mongolia Wuhai secondary metallurgical coke: 1100 yuan/ton, up 50 yuan; Semi - coke (medium material Shenmu): 670 yuan/ton, unchanged [2] - Manganese ore port inventory: 438.5 tons, down 11 tons [2] Industry Situation - Manganese silicon enterprise operating rate: 42.18%, up 0.6%; Ferrosilicon enterprise operating rate: 33.76%, up 0.43% [2] - Manganese silicon supply: 190,820 tons, up 4340 tons; Ferrosilicon supply: 104,400 tons, up 2100 tons [2] - Manganese silicon manufacturer inventory: 164,000 tons, down 41,000 tons; Ferrosilicon manufacturer inventory: 65,500 tons, up 3400 tons [2] - Manganese silicon national steel mill inventory: 14.24 days, down 1.25 days; Ferrosilicon national steel mill inventory: 14.25 days, down 1.13 days [2] - Five major steel types' manganese silicon demand: 123,715 tons, up 45 tons; Five major steel types' ferrosilicon demand: 19,922 tons, down 143.7 tons [2] Downstream Situation - 247 steel mills' blast furnace operating rate: 83.48%, unchanged; 247 steel mills' blast furnace capacity utilization rate: 90.22%, down 0.56% [2] - Crude steel output: 83,184,000 tons, down 3,361,000 tons [2] Industry News - Trump threatens to significantly increase Indian tariffs, causing Indian ETFs listed in the US to turn down. The EU will suspend trade counter - measures against the US for 6 months. [2] - Trump will select a new Fed governor in the "next few days" and announce a new Bureau of Labor Statistics director in three to four days. [2] - The China Federation of Machinery Industry states that the Ministry of Industry and Information Technology will soon issue steady - growth work plans for industries such as machinery, automobiles, and power equipment. [2] - Affected by high temperatures, on August 4, the power consumption load of the State Grid reached a new high for the third time, reaching 1.222 billion kilowatts. [2]