永安期货铁合金早报-20251126

Report Information - Report Title: Ferroalloy Morning Report - Report Date: November 26, 2025 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No information provided 3. Summary by Relevant Catalogs Price - Silicon Iron (SiFe): The latest prices of SiFe natural lumps in different regions such as Ningxia 72 (5130), Inner Mongolia 72 (5150), etc., showed various daily and weekly changes. For example, Ningxia 72 had no daily change but a -20 weekly change [2]. - Silicon Manganese (SiMn): The latest prices of SiMn in different regions like Inner Mongolia 6517 (5520), Ningxia 6517 (5480), etc., also had different daily and weekly changes. Inner Mongolia 6517 had no daily change but a -80 weekly change [2]. Supply - Silicon Iron: The production capacity utilization rates of 136 SiFe production enterprises in Inner Mongolia, Ningxia, and Shaanxi showed different trends over the years from 2021 - 2025 [4]. - Silicon Manganese: The weekly production of SiMn in China from 2021 - 2025 showed a certain range of values, from 5500 to 9000 [6]. Demand - Silicon Iron: The demand - related data included the export prices of SiFe 72% and 75% at Tianjin Port, and the demand was also related to the production of products such as crude steel and metal magnesium [4]. - Silicon Manganese: The demand for SiMn in China (in ten thousand tons, according to Steel Union's caliber) showed an increasing trend from 2021 - 2025, from around 20 to 70 [4]. Inventory - Silicon Iron: The inventory data of 60 sample enterprises in China, Ningxia, Inner Mongolia, and Shaanxi, as well as the CZCE SiFe warehouse receipt quantity, effective forecast, etc., were presented over the years from 2021 - 2025 [5]. - Silicon Manganese: The inventory - related data included the CZCE SiMn warehouse receipt quantity, effective forecast, and the inventory of 63 sample enterprises in China from 2021 - 2025 [7]. Cost and Profit - Silicon Iron: The cost - related factors included electricity prices in different regions (Inner Mongolia, Qinghai, Ningxia, Shaanxi), and the profit data included Ningxia SiFe's cost, profit from converting to the main contract on the disk, and spot profit [5]. - Silicon Manganese: The profit data of SiMn in Inner Mongolia, Guangxi, and other regions, as well as the profit from converting Guangxi SiMn to the main contract on the disk, were presented from 2021 - 2025 [7].