铁合金日报-20251110

Group 1: Market Information - SF main contract closed at 5588, up 62 for the day and week, with a trading volume of 185,321 (up 68,507) and an open interest of 165,633 (down 64,581) [2] - SM main contract closed at 5820, up 60 for the day and 26 for the week, with a trading volume of 213,766 (up 83,896) and an open interest of 354,763 (down 2,377) [2] - Spot prices of 72% FeSi in Inner Mongolia, Ningxia, and Qinghai were 5300, 5250, and 5270 respectively, with different weekly changes; spot prices of 6517 Si - Mn in Inner Mongolia, Ningxia, and Guangxi also had different weekly changes [2] - The basis and spreads of ferrosilicon and silicomanganese in different regions showed various daily and weekly changes [2] - The prices of manganese ore in Tianjin and semi - coke in different regions had different daily and weekly changes [2] Group 2: Market Judgment Trading Strategy - On November 10, ferrosilicon futures prices rose overall. The SF main contract rose 1.12%, and the SM main contract rose 1.04%. Both had a decrease in open interest [5] - For ferrosilicon, spot prices were stable with a slight upward trend on the 10th. Supply did not show a reduction trend, while demand had a downward expectation due to the decline in steel production and poor steel profits. The cost side was supported by rising power coal prices and electricity prices. Previous short positions could be reduced [5] - For silicomanganese, manganese ore spot prices were stable on the 10th, and silicomanganese spot prices fluctuated slightly. Supply was still at a high level, and demand had downward pressure. The cost side was supported by rising overseas manganese ore quotes and electricity prices. Previous short positions could be reduced [5] - Unilateral: With the marginal weakening of supply - demand and cost support, previous short positions could be reduced on dips; Arbitrage: Wait and see; Options: Sell out - of - the - money straddle option combinations [6] Important Information - On the 10th, Tianjin Port had different quotes for different types of manganese ore [7] - A large steel mill in Hebei issued a tender for 75B ferrosilicon in November, with a quantity of 2,716 tons, 240 tons less than in October [8] Group 3: Related Attachments - There are various charts including the trend of ferrosilicon and silicomanganese main contracts, the spread between SF and SM, the monthly spreads of ferrosilicon and silicomanganese, the basis of ferrosilicon and silicomanganese, spot prices, electricity prices, production costs, and production profits [13][14][15] - The production costs and profits of ferrosilicon and silicomanganese in different regions are presented in tables and charts [18][24]