瑞达期货锰硅硅铁产业日报-20250902

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - On September 2, the SM2601 contract was reported at 5,744, up 0.49%. The market is expected to move weakly in a volatile manner. [2] - On September 2, the SF2511 contract was reported at 5,528, up 0.77%. The market is also expected to move weakly in a volatile manner. [2] 3. Summary by Directory 3.1 Futures Market - SM主力合约收盘价 was 5,744 yuan/ton, up 8 yuan; SF主力合约收盘价 was 5,528 yuan/ton, down 4 yuan. [2] - SM期货合约持仓量 was 571,002 hands, up 10,495 hands; SF期货合约持仓量 was 441,881 hands, up 12,787 hands. [2] - 锰硅前20名净持仓 was -66,477 hands, down 2,416 hands; 硅铁前20名净持仓 was -36,146 hands, down 3,960 hands. [2] - SM5 - 1月合约价差 was 38 yuan/ton, down 6 yuan; SF5 - 1月合约价差 was 134 yuan/ton, up 10 yuan. [2] - SM仓单 was 64,682 sheets, down 1,078 sheets; SF仓单 was 18,972 sheets, down 359 sheets. [2] 3.2 Spot Market - 内蒙古锰硅 FeMn68Si18 was 5,630 yuan/ton, unchanged; 内蒙古硅铁FeSi75 - B was 5,480 yuan/ton, up 20 yuan. [2] - 贵州锰硅FeMn68Si18 was 5,650 yuan/ton, unchanged; 青海硅铁 FeSi75 - B was 5,260 yuan/ton, up 20 yuan. [2] - 云南锰硅FeMn68Si18 was 5,680 yuan/ton, unchanged; 宁夏硅铁 FeSi75 - B was 5,330 yuan/ton, up 40 yuan. [2] - 锰硅指数均值 was 5,689 yuan/ton, down 17 yuan; SF主力合约基差 was -198 yuan/ton, up 44 yuan. [2] - SM主力合约基差 was -114 yuan/ton, down 8 yuan. [2] 3.3 Upstream Situation - 南非矿:Mn38块:天津港 was 24 yuan/ton degree, unchanged; 硅石（98% 西北） was 210 yuan/ton, unchanged. [2] - 内蒙古乌海二级冶金焦 was 1,200 yuan/ton, unchanged; 兰炭（中料 神木） was 680 yuan/ton, unchanged. [2] - 锰矿港口库存 was 441.40 million tons, down 3.20 million tons. [2] 3.4 Industry Situation - 锰硅企业开工率 was 47%, up 0.63%; 硅铁企业开工率 was 36.54%, up 0.02%. [2] - 锰硅供应 was 213,395 tons, up 2,205 tons; 硅铁供应 was 113,100 tons, down 300 tons. [2] - 锰硅厂家库存 was 149,000 tons, down 7,000 tons; 硅铁厂家库存 was 62,910 tons, up 830 tons. [2] - 锰硅全国钢厂库存 was 14.24 days, down 1.25 days; 硅铁全国钢厂库存 was 14.25 days, down 1.13 days. [2] - 五大钢种锰硅需求 was 126,656 tons, up 1,371 tons; 五大钢种硅铁需求 was 20,573.60 tons, up 297.70 tons. [2] 3.5 Downstream Situation - 247家钢厂高炉开工率 was 83.18%, down 0.16%; 247家钢厂高炉产能利用率 was 90%, down 0.27%. [2] - 粗钢产量 was 7,965.82 million tons, down 352.58 million tons. [2] 3.6 Industry News - New Zealand will relax the ban on foreigners buying homes, allowing wealthy investment immigrants with "golden visas" to buy luxury homes worth at least NZD 5 million. [2] - The Central Rural Work Leading Group Office has deployed comprehensive efforts to address the issue of high betrothal gifts in rural areas. [2] - Relevant departments will formulate a series of supporting documents around the "Opinions on Deeply Implementing the 'Artificial Intelligence +' Initiative". [2] - French business leaders have warned that France faces a real "recession risk". [2] 3.7 Viewpoint Summary - For manganese - silicon, the output has been rising since mid - May, inventory has decreased for 5 consecutive weeks, and the cost of imported manganese ore has decreased. The spot profit in Inner Mongolia is -120 yuan/ton, and in Ningxia is -420 yuan/ton. The August steel mill procurement tender price increased by 150 yuan/ton month - on - month. [2] - For silicon - iron, the output has rebounded rapidly in recent weeks, the inventory is at a neutral level, and the cost of semi - coke in Ningxia has increased. The spot profit in Inner Mongolia is -285 yuan/ton, and in Ningxia is -190 yuan/ton. The August steel mill procurement tender price increased by 100 yuan/ton month - on - month. [2]