硅铁：市场情绪扰动，宽幅震荡，锰硅：市场情绪扰动，宽幅震荡

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The manganese - silicon market is affected by market sentiment and shows wide - range fluctuations. The trend strength of both ferrosilicon and manganese - silicon is neutral [1][3]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Data: - Ferrosilicon 2511 closed at 5620, down 4 from the previous trading day, with a trading volume of 142,273 and an open interest of 223,860. Ferrosilicon 2601 closed at 5578, down 6, with a trading volume of 45,024 and an open interest of 103,748. - Manganese - silicon 2511 closed at 5826, down 4, with a trading volume of 80,920 and an open interest of 121,178. Manganese - silicon 2601 closed at 5838, down 2, with a trading volume of 119,207 and an open interest of 318,548 [1]. - Spot Data: - The price of ferrosilicon FeSi75 - B in Inner Mongolia was 5310 yuan/ton, up 30. The price of ferromanganese FeMn65Si17 in Inner Mongolia was 5680 yuan/ton. - The price of manganese ore Mn44 block was 39.8 yuan/ton - degree, up 0.3. The price of semi - coke small materials in Shenmu was 650 yuan/ton [1]. - Price Difference Data: - The spot - futures price difference of ferrosilicon (spot - 11 futures) was - 310 yuan/ton, up 34. The spot - futures price difference of manganese - silicon (spot - 01 futures) was - 158 yuan/ton, up 4. - The near - far monthly price difference of ferrosilicon 2511 - 2601 was 42 yuan/ton, up 2. The near - far monthly price difference of manganese - silicon 2511 - 2601 was - 12 yuan/ton, down 2. - The cross - variety price difference of manganese - silicon 2511 - ferrosilicon 2511 was 206 yuan/ton, unchanged. The cross - variety price difference of manganese - silicon 2601 - ferrosilicon 2601 was 260 yuan/ton, up 4 [1]. 3.2 Macro and Industry News - On September 9, the price range of 72 ferrosilicon was 5150 - 5350 yuan/ton in different regions, and the price range of 75 ferrosilicon was 5700 - 5900 yuan/ton. The FOB price of 72 ferrosilicon was 1040 - 1060 dollars/ton, and that of 75 was 1100 - 1130 dollars/ton. The northern quotation of 6517 ferromanganese was 5650 - 5750 yuan/ton, and the southern quotation was 5700 - 5800 yuan/ton, up 50 [1]. - A large steel mill in Jiangsu finalized the purchase price of 75B ferrosilicon at 5750 yuan/ton acceptance [1]. - A large steel group in Hebei tendered 17,000 tons of ferromanganese in September, an increase of 900 tons compared with August. It tendered 3151 tons of 75B ferrosilicon in September, an increase of 316 tons compared with August [2][3]. - UMK announced the manganese ore quotation for China in October 2025: Mn36% South African lump ore was 4 dollars/ton - degree, a decrease of 0.05 dollars/ton - degree compared with the previous month's quotation [3]. 3.3 Trend Strength The trend strength of ferrosilicon is 0, and that of manganese - silicon is 0, indicating a neutral trend for both [3].