大越期货锰硅周报-20250825

Report Title - Manganese Silicon Weekly Report (August 18 - August 22) [1] Report Industry Investment Rating - Not provided Core Viewpoints - In the cost aspect, the centralized pre - procurement of northern alloy plants is nearing completion, port activity has decreased, high - price offers from miners are reducing, and the "buy on rising" sentiment in the market has increased with strong wait - and - see mood and cautious procurement. Coke has been stable recently, and the current spot cost has little change [2]. - Regarding the supply side, the overall start - up of the north and south markets has little fluctuation. Factory inventory pressure is temporarily not large as manufacturers were active in hedging or selling before. Due to the weak operation of the silicon - manganese futures market and cost inversion, alloy plants are reluctant to lower prices, and many are not quoting prices, with a rising bearish sentiment in the market [2]. - From the demand side, affected by the decline of the silicon - manganese futures market, the new steel tender prices have dropped significantly after the HeSteel tender, with acceptance pricing concentrated around 5850 - 5900 yuan/ton, and the acceptance of silicon - manganese alloy is average. The approaching military parade production restrictions in northern steel mills are expected to temporarily suppress the demand for silicon - manganese alloy [2]. - Overall, the sentiment in the silicon - manganese market has cooled slightly recently. The silicon - manganese price stabilized after a mid - week decline, and the future price trend still depends on the futures market fluctuations and changes in supply - demand fundamentals. It is predicted that the market will continue to fluctuate in the short term [2]. Summary by Directory Manganese Silicon Supply - Capacity: Data on the monthly capacity of Chinese silicon - manganese enterprises and annual production in different regions such as Guangxi, Guizhou, Inner Mongolia, Ningxia, Yunnan, and other areas are presented [6][7] - Production: - Annual, weekly, and monthly production data of Chinese silicon - manganese are shown, along with the weekly start - up rate of silicon - manganese enterprises [7][10] - Monthly production in Inner Mongolia, Ningxia, and Guizhou, and daily average production in Inner Mongolia, Ningxia, Guizhou, and Guangxi are provided [11][12] Manganese Silicon Demand - Procurement Volume: Monthly procurement volumes of silicon - manganese 6517 by enterprises such as HeSteel Group, Shagang Co., Ltd., and Nanjing Iron & Steel Co., Ltd., as well as the weekly demand in China are presented [13] - Steel Tender Procurement Price: Monthly procurement prices of silicon - manganese 6517 by enterprises like Baoshan Iron & Steel Co., Ltd., Baowu Egang, and others are shown [15] - Daily Average Hot Metal and Profit: Weekly data on the daily average hot metal production and profitability of 247 steel enterprises in China are provided [17] Manganese Silicon Import and Export - Monthly import and export quantities of ferromanganese - silicon in China are presented [19] Manganese Silicon Inventory - Weekly inventory data of 63 sample silicon - manganese enterprises in China, and monthly average available days of inventory in China, the northern region, and the eastern region are provided [21] Manganese Silicon Cost - Manganese Ore Import Volume: Monthly import volumes of manganese ore from different sources and trade methods are presented [23] - Manganese Ore Port Inventory and Available Days: Weekly port inventory data of manganese ore in China, Qinzhou Port, and Tianjin Port, as well as the weekly average available days of inventory in China are provided [25] - High - Grade Manganese Ore Port Inventory: Weekly port inventory data of high - grade manganese ore from different origins in Qinzhou Port and Tianjin Port are presented [27] - Tianjin Port Manganese Ore Price: Daily price data of different types of manganese ore in Tianjin Port are provided [28] - Regional Cost: Daily cost data of silicon - manganese in regions such as Inner Mongolia, the northern region, Ningxia, the southern region, and Guangxi are presented [29] Manganese Silicon Profit - Daily profit data of silicon - manganese in regions such as the northern region, the southern region, Inner Mongolia, Ningxia, and Guangxi are presented [31]