大越期货锰硅早报-20260224

1. Report Industry Investment Rating - The investment rating for the manganese - silicon industry is neutral [3] 2. Core Viewpoint of the Report - In the post - holiday market, the manganese - silicon market will face a dual game between high costs and loose supply. The comprehensive cost of manganese - silicon is expected to rise, providing strong bottom support for spot prices. However, if terminal demand recovery is less than expected, the supply - side pressure will be further highlighted. Overall, the manganese - silicon market will maintain a volatile trend, with limited downward price space due to cost support and insufficient upward price momentum due to supply - side suppression. It is necessary to focus on the ignition of new production capacity, power price fluctuations in major production areas, and the tender pricing of mainstream steel mills. The price of SM2605 is expected to fluctuate between 5700 - 5870 [3] 3. Summary by Directory Manganese - Silicon Supply - Capacity: The chart shows the monthly production capacity of manganese - silicon enterprises in China [7] - Annual Production: The chart presents the annual production of manganese - silicon in Guangxi, Guizhou, Inner Mongolia, Ningxia, Yunnan, other regions, and the whole of China [9] - Weekly, Monthly Production and开工率: The chart shows the weekly and monthly production of manganese - silicon in China and the weekly开工率 of manganese - silicon enterprises in China [12] - Regional Production: The chart shows the monthly production of manganese - silicon in Inner Mongolia, Ningxia, and Guizhou, as well as the daily average production in Inner Mongolia, Ningxia, Guizhou, and Guangxi [14] Manganese - Silicon Demand - Steel Tender Purchase Price: The chart shows the monthly purchase prices of manganese - silicon 6517 by Baoshan Iron & Steel Co., Ltd., Baowu E'gang, Chengde Jianlong, Heilongjiang Jianlong, Yangchun Iron & Steel, Jilin Jianlong, and Nanjing Iron & Steel Co., Ltd. [17] - Daily Average Hot Metal and Profit: The chart shows the weekly daily average hot metal production and profitability of 247 steel enterprises in China [19] Manganese - Silicon Import and Export - The chart shows the monthly import and export quantities of ferromanganese - silicon in China [21] Manganese - Silicon Inventory - The chart shows the weekly inventory of 63 sample manganese - silicon enterprises in China, the monthly average available days of inventory in China, the northern region, and the eastern region [23] Manganese - Silicon Cost - Manganese Ore Import Volume: The chart shows the monthly import volume of manganese ore by trade method, from Gabon to China, from southern Africa to China, and from Australia to China [25] - Manganese Ore Port Inventory and Available Days: The chart shows the weekly port inventory of manganese ore in China, Qinzhou Port, and Tianjin Port, as well as the weekly average available days of inventory in China [27] - High - Grade Manganese Ore Port Inventory: The chart shows the weekly port inventory of Australian - produced, Gabonese - produced, and Brazilian - produced high - grade manganese ore in Qinzhou Port and Tianjin Port [29] - Tianjin Port Manganese Ore Price: The chart shows the daily price of South African semi - carbonate manganese lumps (Mn36.5%), Australian - produced manganese ore (Mn45%), and Gabonese - produced manganese lumps (Mn44.5%) in Tianjin Port [30] - Regional Cost: The chart shows the daily cost of manganese - silicon in Inner Mongolia, the northern region, Ningxia, the southern region, and Guangxi [31] Manganese - Silicon Profit - The chart shows the daily profit of manganese - silicon in the northern region, the southern region, Inner Mongolia, Ningxia, and Guangxi [33]