硅铁：市场多空情绪持续博弈，价格走势震荡；锰硅：市场多空情绪持续博弈，价格走势震荡

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The market sentiment for both ferrosilicon and silicomanganese is a continuous tug - of - war between bulls and bears, resulting in a volatile price trend [1] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Data: - For ferrosilicon, the closing price of FeSi2605 is 5884, up 8 from the previous trading day, with a trading volume of 109,672 and an open interest of 191,953; FeSi2607 has a closing price of 5984, up 18, a trading volume of 83,860, and an open interest of 100,706 [1] - For silicomanganese, the closing price of SM2605 is 6116, up 28, with a trading volume of 168,178 and an open interest of 369,306; SM2607 has a closing price of 6142, up 20, a trading volume of 20,985, and an open interest of 100,943 [1] - Spot Data: - The price of ferrosilicon FeSi75 - B in Inner Mongolia is 5550 yuan/ton, up 20 yuan/ton from the previous trading day; the price of silicomanganese FeMn65Si17 in Inner Mongolia is 5850 yuan/ton [1] - The price of manganese ore Mn44 block is 44.5 yuan/ton - degree, up 0.3 yuan/ton - degree; the price of semi - coke small material in Shenmu is 695 yuan/ton [1] - Price Spread Data: - The basis of ferrosilicon (spot - 05 futures) is - 334 yuan/ton, up 12 yuan/ton; the basis of silicomanganese (spot - 05 futures) is - 292 yuan/ton, down 28 yuan/ton [1] - The near - far month spread of ferrosilicon (2605 - 2607) is - 100 yuan/ton, down 10 yuan/ton; the near - far month spread of silicomanganese (2605 - 2607) is - 26 yuan/ton, up 8 yuan/ton [1] - The cross - variety spread of silicomanganese 2605 - ferrosilicon 2605 is 232 yuan/ton, up 20 yuan/ton; the cross - variety spread of silicomanganese 2607 - ferrosilicon 2607 is 158 yuan/ton, up 2 yuan/ton [1] 3.2 Macro and Industry News - Price Information: - On March 11, the price range of 72 ferrosilicon in Shaanxi is 5400 - 5500 yuan/ton, in Ningxia is 5450 - 5550 yuan/ton (down 50 yuan/ton), in Qinghai is 5500 - 5600 yuan/ton, in Gansu is 5450 - 5550 yuan/ton (down 100 yuan/ton), and in Inner Mongolia is 5500 - 5600 yuan/ton; the price range of 75 ferrosilicon in Shaanxi is 6000 - 6100 yuan/ton, in Ningxia is 5900 - 6000 yuan/ton, in Qinghai is 5900 - 6000 yuan/ton, in Gansu is 5850 - 6000 yuan/ton (up 50 yuan/ton), and in Inner Mongolia is 6000 - 6050 yuan/ton [1] - The FOB price of 72 ferrosilicon is 1120 - 1140 dollars/ton (up 20 dollars/ton), and the FOB price of 75 ferrosilicon is 1150 - 1170 dollars/ton (up 10 dollars/ton) [1] - The northern quotation of 6517 silicomanganese is 5800 - 5900 yuan/ton (down 50 yuan/ton), and the southern quotation is 5900 - 5950 yuan/ton [1] - Production News: A ferrosilicon plant in Ulanqab powered on and resumed production of 2 45000kva ferrosilicon furnaces [3] - Procurement News: A large steel group in Jiangsu set the price of silicomanganese at 6150 yuan/ton cash - inclusive delivered to the factory, up 100 yuan/ton from the beginning - of - the - month price, with a procurement volume of 3000 tons; Hengyang Steel Pipe set the price of ferrosilicon at 6000 yuan/ton, up 100 yuan/ton from the previous round, with a volume of 200 tons [3] 3.3 Trend Intensity - The trend intensity of ferrosilicon is 0, and the trend intensity of silicomanganese is 0 [3]