硅铁：现货价格坚挺，宽幅震荡，锰硅：现货价格坚挺，宽幅震荡

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View The spot prices of ferrosilicon and silicomanganese are firm, and both are in a wide - range shock [1]. 3. Summary by Relevant Catalogs 3.1 Macro and Industry News - On March 16, the price range of 72 ferrosilicon was 5400 - 5600 yuan/ton in different regions (with an increase of 50 yuan/ton in Ningxia), and the price range of 75 ferrosilicon was 5900 - 6100 yuan/ton (with an increase of 25 yuan/ton in Ningxia). The FOB price of 72 ferrosilicon was 1140 - 1160 dollars/ton (+20), and that of 75 was 1160 - 1180 dollars/ton (+10). The northern quotation of 6517 silicomanganese was 5800 - 5900 yuan/ton, and the southern quotation was 5900 - 5950 yuan/ton [1]. - Yunnan Qujing Chenggang finalized the purchase price of 72 ferrosilicon at 5980 yuan/ton in cash, with a quantity of 400 tons [1]. 3.2 Futures and Spot Price Data - Futures Contracts: - For ferrosilicon 2605, the closing price was 5872, down 16 from the previous trading day, with a trading volume of 118,885 and an open interest of 172,137. For ferrosilicon 2607, the closing price was 5994, down 8, with a trading volume of 63,271 and an open interest of 107,840 [1]. - For silicomanganese 2605, the closing price was 6162, down 14, with a trading volume of 151,573 and an open interest of 364,751. For silicomanganese 2607, the closing price was 6196, down 8, with a trading volume of 70,671 and an open interest of 106,263 [1]. - Spot Prices: The price of ferrosilicon (FeSi75 - B: summary price: Inner Mongolia) was 5930 yuan/ton, up 30 from the previous trading day; the price of silicomanganese (FeMn65Si17: Inner Mongolia) was 5580 yuan/ton; the price of manganese ore (Mn44 block) was 44.5 yuan/ton - degree; the price of semi - coke (small material: Shenmu) was 695 yuan/ton [1]. - Price Spreads: - The basis of ferrosilicon (spot - 05 futures) was - 292 yuan/ton, up 16; the basis of silicomanganese (spot - 05 futures) was - 266 yuan/ton, up 44 [1]. - The spread between ferrosilicon 2605 and 2607 was - 122 yuan/ton, down 8; the spread between silicomanganese 2605 and 2607 was - 34 yuan/ton, down 6 [1]. - The spread between silicomanganese 2605 and ferrosilicon 2605 was 290 yuan/ton, up 2; the spread between silicomanganese 2607 and ferrosilicon 2607 was 202 yuan/ton, unchanged [1]. 3.3 Trend Intensity The trend intensity of ferrosilicon is 0, and that of silicomanganese is also 0 [2].