硅铁：成本预期抬升，宽幅震荡，锰硅，板块情绪共振，宽幅震荡

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - The manganese silicon sector experiences emotional resonance and wide - amplitude fluctuations [1] 3. Summary by Relevant Catalogs Macroeconomic and Industry News - On January 23, the price of 72 silicon iron in Shaanxi was 5200 - 5300 yuan/ton, in Ningxia 5300 - 5350 (+50) yuan/ton, in Qinghai 5250 - 5350 (+25) yuan/ton, in Gansu 5200 - 5250 (-25) yuan/ton, and in Inner Mongolia 5250 - 5300 yuan/ton; the price of 75 silicon iron in Shaanxi was 5850 - 5900 (+25) yuan/ton, in Ningxia 5750 - 5800 (+50) yuan/ton, in Qinghai 5700 - 5750 yuan/ton, in Gansu 5700 - 5750 (+50) yuan/ton, and in Inner Mongolia 5800 - 5850 (+50) yuan/ton. The FOB price of 72 silicon iron was 1060 - 1080 (+10) dollars/ton, and that of 75 was 1100 - 1140 (+10) dollars/ton. The northern quotation of 6517 silicon manganese was 5650 - 5700 (-25) yuan/ton, and the southern quotation was 5800 - 5850 yuan/ton [1] - As of January 23, the manganese ore inventory in Tianjin Port was 319.06 million tons, a month - on - month increase of 4.41 million tons; in Qinzhou Port, it was 102.06 million tons, a month - on - month decrease of 2.43 million tons; in Caofeidian Port, it was 0 million tons; in Fangchenggang, it was 15.4 million tons, a month - on - month increase of 14.4 million tons. The total manganese ore inventory was 436.52 million tons, a month - on - month increase of 16.38 million tons [3] - An Inner Mongolia silicon - manganese plant recently ignited a 145000KVA furnace to produce 6517 silicon manganese, and the 4th submerged arc furnace is expected to be launched around the Spring Festival. Another Inner Mongolia silicon - manganese plant recently ignited a 132000KVA DC furnace to produce high - silicon silicon manganese, and the 4 new production capacities are currently producing iron normally [3] Fundamental Data of Silicon Iron and Manganese Silicon - For the silicon iron 2603 contract, the closing price was 5652, an increase of 42 from the previous trading day, with a trading volume of 147,842 and an open interest of 215,911; for the silicon iron 2605 contract, the closing price was 5626, an increase of 40, with a trading volume of 50,737 and an open interest of 82,503; for the manganese silicon 2603 contract, the closing price was 5818, an increase of 46, with a trading volume of 72,983 and an open interest of 174,771; for the manganese silicon 2605 contract, the closing price was 5856, an increase of 42, with a trading volume of 143,780 and an open interest of 348,558 [2] - The price of silicon iron (FeSi75 - B) in Inner Mongolia was 5330 yuan/ton, an increase of 30 yuan/ton; the price of silicon manganese (FeMn65Si17) in Inner Mongolia was 5680 yuan/ton; the price of manganese ore (Mn44 block) was 42.7 yuan/ton - degree; the price of semi - coke (small material) in Shenmu was 760 yuan/ton [2] - The basis of silicon iron (spot - 03 futures) was - 322 yuan/ton, a decrease of 12 yuan/ton; the basis of manganese silicon (spot - 03 futures) was - 138 yuan/ton, a decrease of 46 yuan/ton; the spread between silicon iron 2603 and 2605 was 26 yuan/ton, an increase of 2 yuan/ton; the spread between manganese silicon 2603 and 2605 was - 38 yuan/ton, an increase of 4 yuan/ton; the spread between manganese silicon 2603 and silicon iron 2603 was 166 yuan/ton, an increase of 4 yuan/ton; the spread between manganese silicon 2605 and silicon iron 2605 was 230 yuan/ton, an increase of 2 yuan/ton [2] Trend Intensity - The trend intensity of silicon iron is 0, and that of manganese silicon is 0 [4]