瑞达期货锰硅硅铁产业日报-20250901

1. Report Industry Investment Rating - No relevant content provided 2. Core Views of the Report - On September 1, the manganese - silicon 2601 contract was reported at 5736, down 0.86%. The spot price of Inner Mongolia silicon - manganese was reported at 5630, down 50 yuan/ton. The production has been on an upward trend since mid - May. After the recent price increase, the inventory has decreased for 5 consecutive weeks to a neutral level. The port inventory of imported manganese ore decreased by 32,000 tons. The downstream hot metal production is at a high level. The Inner Mongolia spot profit is - 235 yuan/ton, and the Ningxia spot profit is - 140 yuan/ton. The steel mill procurement tender price in August increased by 150 yuan/ton month - on - month. Technically, the daily K - line is below the 20 - day and 60 - day moving averages. It should be treated as a weak and volatile operation [2]. - On September 1, the ferrosilicon 2511 contract was reported at 5532, down 0.61%. The spot price of Ningxia ferrosilicon was reported at 5290, down 80 yuan/ton. Baosteel Co., Ltd. identified long products and thick plates as new strategic core products. After the profit improvement, the production has rebounded rapidly in recent weeks. The manufacturers' inventory is at a neutral level. The price of Ningxia semi - coke has increased, and the steel demand expectation is generally weak. The Inner Mongolia spot profit is - 185 yuan/ton, and the Ningxia spot profit is - 40 yuan/ton. The steel mill procurement tender price in August increased by 100 yuan/ton month - on - month. Technically, the daily K - line is below the 20 - day and 60 - day moving averages. It should be treated as a weak and volatile operation [2]. 3. Summary According to Relevant Catalogs 3.1 Futures Market - SM主力合约收盘价5736元/吨，环比下降56元/吨；SF主力合约收盘价5532元/吨，环比下降34元/吨 [2] - SM期货合约持仓量560,507手，环比增加14,356手；SF期货合约持仓量429,094手，环比增加16,871手 [2] - 锰硅前20名净持仓 - 64,061手，环比增加7,124手；硅铁前20名净持仓 - 32,186手，环比增加2,020手 [2] - SM5 - 1月合约价差44元/吨，环比增加2元/吨；SF5 - 1月合约价差124元/吨，环比下降20元/吨 [2] - SM仓单65,760张，环比下降807张；SF仓单19,331张，环比下降502张 [2] 3.2 Spot Market - 内蒙古锰硅FeMn68Si18价格5,630元/吨，环比下降50元/吨；内蒙古硅铁FeSi75 - B价格5,410元/吨，环比下降100元/吨 [2] - 贵州锰硅FeMn68Si18价格5,650元/吨，环比下降100元/吨；青海硅铁FeSi75 - B价格5,240元/吨，环比下降50元/吨 [2] - 云南锰硅FeMn68Si18价格5,680元/吨，环比下降70元/吨；宁夏硅铁FeSi75 - B价格5,290元/吨，环比下降80元/吨 [2] - 锰硅指数均值5,689元/吨，环比下降17元/吨；SF主力合约基差 - 242元/吨，环比下降46元/吨 [2] - SM主力合约基差 - 106元/吨，环比增加6元/吨 [2] 3.3 Upstream Situation - 南非矿:Mn38块:天津港价格24元/吨度，环比持平；硅石（98%西北）价格210元/吨，环比持平 [2] - 内蒙古乌海二级冶金焦价格1,200元/吨，环比持平；兰炭（中料神木）价格680元/吨，环比持平 [2] - 锰矿港口库存441.4万吨，环比下降3.2万吨 [2] 3.4 Industry Situation - 锰硅企业开工率47%，环比增加0.63个百分点；硅铁企业开工率36.54%，环比增加0.02个百分点 [2] - 锰硅供应213,395吨，环比增加2,205吨；硅铁供应113,100吨，环比下降300吨 [2] - 锰硅厂家库存149,000吨，环比下降7,000吨；硅铁厂家库存62,910吨，环比增加830吨 [2] - 锰硅全国钢厂库存14.24天，环比下降1.25天；硅铁全国钢厂库存14.25天，环比下降1.13天 [2] - 五大钢种锰硅需求126,656吨，环比增加1,371吨；五大钢种硅铁需求20,573.6吨，环比增加297.7吨 [2] 3.5 Downstream Situation - 247家钢厂高炉开工率83.18%，环比下降0.16个百分点；247家钢厂高炉产能利用率90%，环比下降0.27个百分点 [2] - 粗钢产量7,965.82万吨，环比下降352.58万吨 [2] 3.6 Industry News - 国家发改委提出发展“人工智能 +”，避免无序竞争和一拥而上，未来1 - 2年是人工智能落地关键窗口期 [2] - 央视新闻称我国电能占终端能源消费比重达30%，高于世界平均水平，预计到2035年将提升至40%以上 [2] - 新华社报道欧盟成员国讨论对以色列政策，西班牙外交大臣提议打破以色列封锁等 [2] - 观察者网消息美国商务部将撤销三星和SK海力士中国工厂使用美国设备豁免，限制措施120天后生效 [2]