硅铁：板块情绪带动，宽幅震荡，锰硅：板块情绪带动，宽幅震荡

Report Summary 1) Report Industry Investment Rating No industry investment rating is provided in the report. 2) Core View of the Report Silicon ferroalloy and manganese ferroalloy are experiencing wide - amplitude fluctuations driven by sector sentiment [1]. 3) Summary by Relevant Catalogs Fundamental Tracking - Futures Data: The closing prices of silicon ferroalloy 2511 and 2601 are 5680 and 5662 respectively, with changes of 38 and 46 compared to the previous trading day. The closing prices of manganese ferroalloy 2511 and 2601 are 5882 and 5898 respectively, with changes of 62 and 66 compared to the previous trading day. The trading volumes and open interests of different contracts are also provided [1]. - Spot Data: The price of silicon ferroalloy FeSi75 - B in Inner Mongolia is 5300 yuan/ton, silicon manganese FeMn65Si17 in Inner Mongolia is 5750 yuan/ton, manganese ore Mn44 block is 39.5 yuan/ton - degree, and semi - coke small material in Shenmu is 650 yuan/ton [1]. - Spread Data: The silicon ferroalloy spot - 11 futures spread is - 380 yuan/ton, and the manganese ferroalloy spot - 01 futures spread is - 148 yuan/ton. The silicon ferroalloy 2511 - 2601 spread is 18 yuan/ton, and the manganese ferroalloy 2511 - 2601 spread is - 16 yuan/ton. The manganese ferroalloy 2511 - silicon ferroalloy 2511 spread is 202 yuan/ton, and the manganese ferroalloy 2601 - silicon ferroalloy 2601 spread is 236 yuan/ton [1]. Macro and Industry News - Silicon Ferroalloy and Manganese Ferroalloy Price News: On August 25, the price ranges of 72 and 75 silicon ferroalloy in different regions are provided, and the FOB prices of 72 and 75 silicon ferroalloy are 1030 - 1050 and 1100 - 1130 US dollars/ton respectively. The northern and southern prices of silicon manganese 6517 are also reported [2]. - Manganese Ore Inventory News: As of August 22, the manganese ore inventory in Tianjin Port is 361.28 million tons, a decrease of 6.36 million tons compared to the previous period; the inventory in Qinzhou Port is 77.25 million tons, an increase of 1.64 million tons; the inventory in Caofeidian Port is 0; the inventory in Fangchenggang is 4 million tons, a decrease of 1 million tons. The total manganese ore inventory is 442.53 million tons, a decrease of 5.72 million tons [2]. Trend Intensity The trend intensity of silicon ferroalloy is 0, and that of manganese ferroalloy is 0, indicating a neutral view [3].