大越期货锰硅早报-20250818

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The cost support for ferrosilicon manganese alloy has strengthened due to the high prices of manganese ore and coke recently. The alloy plants in the north and south markets have a good start - up sentiment. Factories mainly have short - term orders, and the spot inventory of factories in Inner Mongolia and Ningxia is relatively low, mainly fulfilling forward orders. The start - up in Guangxi and Yunnan is gradually increasing. The increase in both the tender volume and price of Hegang has boosted market sentiment. However, the downstream steel mills in the north are affected by the news of production restrictions during the military parade in late August and early September, and the overall start - up of steel mills needs continuous tracking. Overall, the market sentiment is positive, and the short - term price of ferrosilicon manganese is expected to remain firm. It is expected that the price of ferrosilicon manganese will fluctuate this week, with SM2601 fluctuating between 6100 - 6300 yuan/ton [3]. - The spot price is 5900 yuan/ton, and the basis of the 01 contract is - 214 yuan/ton, indicating that the spot is at a discount to the futures, which is bearish [3]. - The inventory of 63 independent ferrosilicon manganese enterprises in the country is 221,800 tons, and the average available days of inventory for 50 steel mills in the country is 15.49 days, which is neutral [3]. - The MA20 is upward, but the futures price of the 01 contract closes below the MA20, which is neutral [3]. - The main position has a net short position, and the short position is decreasing, which is bearish [3]. Summary by Related Catalog Manganese Silicon Supply - Capacity: There are charts showing the monthly capacity of Chinese manganese - silicon enterprises from 2016 - 06 to 2025 - 06, and the annual production of manganese - silicon in different regions of China from 2008 to 2025 [7][8]. - Production - Annual: There is relevant content about the annual production of manganese - silicon, but no specific data is summarized here [9]. - Production - Weekly, Monthly, Start - up Rate: There are charts showing the weekly and monthly production of Chinese manganese - silicon and the weekly start - up rate of Chinese manganese - silicon enterprises from 2020 - 01 - 01 to 2025 - 01 - 01 [11]. - Production - Regional Production: There are charts showing the monthly production of Inner Mongolia, Ningxia, and Guizhou, and the daily average production of Inner Mongolia, Ningxia, Guizhou, and Guangxi [12][13]. Manganese Silicon Demand - Steel Tendering Purchase Price: There are charts showing the monthly purchase prices of manganese - silicon 6517 by multiple steel companies such as Baoshan Iron & Steel Co., Ltd., Baowu E'gang, etc. from 2020 - 01 to 2025 - 06 [16]. - Daily Average Hot Metal and Profit: There are charts showing the weekly daily average hot metal production and profitability of 247 Chinese steel enterprises from 2020 - 01 - 01 to 2025 - 01 - 01 [18]. - Purchase Volume: There are charts showing the monthly purchase volumes of manganese - silicon 6517 by Hebei Iron and Steel Group, Shagang Co., Ltd., Nanjing Iron and Steel Co., Ltd., etc., and the weekly demand for manganese - silicon in China from 2020 - 01 - 01 to 2025 - 01 - 01 [14]. Manganese Silicon Import and Export There are charts showing the monthly import and export volumes of ferrosilicon manganese in China from 2020 - 01 to 2025 - 01 [20]. Manganese Silicon Inventory There are charts showing the weekly inventory of 63 sample manganese - silicon enterprises in China, and the monthly average available days of inventory in China, the northern region, and the eastern region from 2019 - 09 - 30 to 2025 - 03 - 31 [22]. Manganese Silicon Cost - Manganese Ore - Import Volume: There are charts showing the monthly import volume of manganese ore in different trade ways, from Gabon, Africa, and Australia to China from 2020 - 01 to 2025 - 04 [24]. - Port Inventory and Available Days: There are charts showing the weekly port inventory of manganese ore in China, Qinzhou Port, and Tianjin Port, and the weekly average available days of inventory in China from 2020 - 01 - 01 to 2025 - 01 - 01 [26]. - High - Grade Ore Port Inventory: There are charts showing the weekly port inventory of high - grade manganese ore of different origins (Australia, Gabon, Brazil) in Qinzhou Port and Tianjin Port from 2020 - 01 - 01 to 2025 - 01 - 01 [28]. - Tianjin Port Manganese Ore Price: There are charts showing the daily prices of different types of manganese ore in Tianjin Port from 2020 - 01 - 01 to 2025 - 07 - 01 [29]. - Regional Cost: There are charts showing the daily costs of ferrosilicon manganese in Inner Mongolia, the northern region, Ningxia, the southern region, and Guangxi [30]. Manganese Silicon Profit - Regional There are charts showing the daily profits of ferrosilicon manganese in the northern region, the southern region, Inner Mongolia, Ningxia, and Guangxi from 2020 - 01 - 01 to 2025 - 04 - 01 [32].