银河期货铁合金日报-20250813

Group 1: Market Information - SF main contract closed at 5970, up 150 daily and 62 weekly, with trading volume of 223,621 (up 25,074) and open interest of 108,388 (up 86,379) [4] - SM main contract closed at 6074, down 36 daily and 22 weekly, with trading volume of 258,168 (down 849) and open interest of 187,130 (down 16,808) [4] - Spot prices of 72%FeSi in Inner Mongolia were 5550, unchanged daily and down 50 weekly [4] - Spot prices of 6517 silicon - manganese in Inner Mongolia were 5800, unchanged daily and down 50 weekly [4] - Manganese ore (Tianjin) prices: Australian lump was 41, unchanged daily and up 0.5 weekly; South African semi - carbonate was 35.2, unchanged daily and up 0.2 weekly; Gabon lump was 40.3, down 0.2 daily and up 0.3 weekly [4] Group 2: Market Analysis and Trading Strategies - On August 13, ferroalloy futures prices declined. SF main contract closed at 5794, down 0.45%, with open interest decreasing by 19,568; SM main contract closed at 6074, down 0.59%, with open interest decreasing by 10,874 [6] - For silicon - iron, spot prices were stable on the 13th. Supply increased steadily. Demand remained supported by good steel profits and high steel output. The 09 contract is approaching delivery, and it is expected to fluctuate around the warehouse - receipt cost [6] - For silicon - manganese, manganese ore spot prices were slightly weak, while silicon - manganese spot prices were slightly strong. Supply increased slightly with price hikes. Demand was supported by good steel profits. Cost was also supported by overseas mines' slightly higher September quotes. It is expected to fluctuate widely around the warehouse - receipt cost [6] - Trading strategies: Trade around the warehouse - receipt cost; conduct cash - and - carry arbitrage when the basis is low; sell straddle option combinations at high prices [7] Group 3: Important Information - A large steel mill in Hebei set the purchase price of 75B silicon - iron in August at 6030 yuan/ton, up 430 yuan/ton from July, with the quantity of 2835 tons, up 135 tons from July [8] - On the 13th, Tianjin Port's semi - carbonate Mn36.5% was quoted at 35.5 yuan/ton degree, Australian lump Mn46% at 43 yuan/ton degree, and South African medium - iron lump Mn42%Fe12% at 37 yuan/ton degree [8] Group 4: Cost and Profit - Silicon - iron production costs and profits: Inner Mongolia had a production cost of 5499 yuan/ton and a profit of 1 yuan/ton; Ningxia had a cost of 5352 yuan/ton and a profit of 148 yuan/ton; Shaanxi had a cost of 5564 yuan/ton and a loss of 114 yuan/ton; Qinghai had a cost of 5421 yuan/ton and a profit of 79 yuan/ton; Gansu had a cost of 5573 yuan/ton and a loss of 73 yuan/ton [21] - Silicon - manganese production costs and profits: Inner Mongolia had a production cost of 5842 yuan/ton and a profit of 8 yuan/ton; Ningxia had a cost of 5903 yuan/ton and a loss of 103 yuan/ton; Guangxi had a cost of 6421 yuan/ton and a loss of 521 yuan/ton; Guizhou had a cost of 6169 yuan/ton and a loss of 319 yuan/ton [24]