铁合金日报-20260305

Group 1: Market Information - SF main contract closed at 5828, up 10 (0.17%) daily and 290 weekly, with a trading volume of 159,825 (down 67,616) and an open interest of 207,380 (up 742). SM main contract closed at 6092, down 28 (0.46%) daily and up 174 weekly, with a trading volume of 242,409 (down 143,602) and an open interest of 435,845 (down 8,150) [3] - 72% FeSi spot prices in Inner Mongolia, Ningxia, Qinghai, and Tianjin increased by 50, 20, 50, and 50 yuan/ton respectively, while the prices in Jiangsu remained unchanged. For 6517 SiMn, the prices in Inner Mongolia, Guangxi, Jiangsu, and Tianjin remained unchanged, and the price in Ningxia decreased by 20 yuan/ton [3] - The price of manganese ore in Tianjin Port increased slightly, with Australian lump ore up 0.3 yuan/ton degree, South African semi - carbonate up 0.2 yuan/ton degree, and Gabon lump ore up 0.1 yuan/ton degree. The prices of semi - coke small materials in Shaanxi, Ningxia, and Inner Mongolia remained unchanged [3] Group 2: Market Analysis and Trading Strategies - Core View: After the significant increase in ferroalloy prices, the risk - return ratio has decreased. It is recommended to partially take profits on the previously suggested long positions [5][6] - Silicon Iron: On March 5, the spot price was stable with a slight upward trend. The supply has slightly increased recently. Steel production has started a seasonal recovery, but the recovery speed is slow due to the increasing steel inventory. The cost - demand positive feedback is in place, but there are signs of production resumption in other regions. It is advisable to partially take profits on long positions [5] - Silicon Manganese: On March 5, manganese ore spot prices were stable with a slight upward trend, while SiMn spot prices were stable with a slight downward trend. The supply has slightly increased due to new capacity and price increases. The demand recovery of steel is slow. The manganese ore spot is strong, and overseas mines' April quotes continue to rise. It is recommended to partially reduce positions and take profits [5] - Trading Strategies: For unilateral trading, partially take profits on previous long positions; for arbitrage, stay on the sidelines; for options, sell out - of - the - money put options [6] Group 3: Important News - Comilog announced its April 2026 offer price for Gabon lump ore to China at $5.25/ton degree, a month - on - month increase of $0.27/ton degree [7] - The Government Work Report proposed that the main expected target for economic growth this year is 4.5% - 5%, and efforts will be made to achieve better results in actual work [7] Group 4: Related Attachments - Graphs Included: Ferroalloy main contract price trends, SF - SM price spreads, monthly spreads of silicon iron and silicon manganese, basis of silicon iron and silicon manganese, spot prices of silicon manganese, ferroalloy electricity prices, production costs and profits of silicon iron and silicon manganese [10][11][12]