大越期货锰硅周报-20250812

Report Industry Investment Rating - Not provided in the content Core Viewpoints - This week, the manganese ore market remained firm, and silicon-manganese alloy plants maintained just-in-time procurement. With the stable rise in coke prices, there was strong cost support for silicon-manganese alloy spot and futures prices [2]. - The silicon-manganese futures market showed high-level fluctuations this week, and the market still had a mindset of holding prices. High-level hedging was common in Inner Mongolia and Ningxia. The production in the north and south markets was stable. Due to smooth sales in late July, inventory decreased, and factories in early August were mostly producing on order to replenish inventory, so the inventory pressure was small, and manufacturers were more willing to maintain high prices. Given the market fluctuations, many manufacturers were waiting and watching, and some stopped quoting prices, waiting for the market to become clearer before adjusting prices [2]. - This week, HBIS Group's silicon-manganese procurement volume in August was 16,100 tons, an increase of 1,500 tons from the previous round. The first-round inquiry price for silicon-manganese in August was 6,000 yuan/ton, a rise of 150 yuan compared to the July pricing of 5,850 yuan/ton. The increase in steel tender quantity and inquiry price in August may support the short-term sentiment in the silicon-manganese market [2]. - Overall, the silicon-manganese market showed high-level fluctuations under the combined influence of multiple factors such as cost, supply, and demand this week. It is expected that this fluctuating trend will continue in the short term. Attention should be paid to the trend of silicon-manganese futures and HBIS's tender pricing [2]. - The market is expected to continue its relatively strong fluctuating trend in the short term [3] Summary by Directory Manganese-Silicon Supply - Capacity: Data on the monthly capacity of Chinese silicon-manganese enterprises and annual production in different regions (Guangxi, Guizhou, Inner Mongolia, Ningxia, Yunnan, and other areas) are presented in charts [7][8] - Production - Annual: Not elaborated further in text, only the title is provided [9] - Production - Weekly, Monthly, and Capacity Utilization: Charts show weekly and monthly production of Chinese silicon-manganese and weekly capacity utilization of Chinese silicon-manganese enterprises [11] - Production - Regional Production: Charts display monthly production in Inner Mongolia, Ningxia, and Guizhou, as well as daily average production in Inner Mongolia, Ningxia, Guizhou, and Guangxi [12][13] Manganese-Silicon Demand - Steel Tender Purchase Price: Charts show the monthly purchase prices of silicon-manganese by various steel companies, including Baoshan Iron & Steel Co., Ltd., Baowu Egang, Chengde Jianlong, Heilongjiang Jianlong, Yangchun Iron and Steel, Jilin Jianlong, and Nanjing Iron and Steel Co., Ltd. [16] - Daily Average Hot Metal and Profitability: Charts show the weekly daily average hot metal production and profitability of 247 Chinese steel enterprises [18] Manganese-Silicon Import and Export - Charts show the monthly import and export volumes of Chinese ferromanganese-silicon [20] Manganese-Silicon Inventory - Charts show the weekly inventory of 63 sample Chinese silicon-manganese enterprises, as well as the monthly average available inventory days in China, the northern region, and East China [22] Manganese-Silicon Cost - Manganese Ore - Import Volume: Charts show the monthly import volume of manganese ore from different sources (including total import volume by trade method, from Gabon, southern Africa, and Australia) [24] - Manganese Ore - Port Inventory and Available Days: Charts show the weekly port inventory of manganese ore in China, Qinzhou Port, and Tianjin Port, as well as the weekly average available inventory days in China [26] - Manganese Ore - High-Grade Ore Port Inventory: Charts show the weekly port inventory of high-grade manganese ore from different origins (Australia, Gabon, Brazil) in Qinzhou Port and Tianjin Port [28] - Manganese Ore - Tianjin Port Manganese Ore Price: Charts show the daily price of different types of manganese ore in Tianjin Port [29] - Regional Cost: Charts show the daily cost of silicon-manganese in different regions (Inner Mongolia, northern region, Ningxia, southern region, Guangxi) [30] Manganese-Silicon Profit - Charts show the daily profit of silicon-manganese in different regions (northern region, southern region, Inner Mongolia, Ningxia, Guangxi) [32]