硅铁：板块情绪扰动，现货表现平淡；锰硅：能源信息扰动，多头情绪高涨

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The report focuses on the fundamentals and market news of ferrosilicon and silicomanganese. Energy information disturbances have led to high bullish sentiment in the silicomanganese market [1]. 3. Summary Based on Relevant Catalogs 3.1 Fundamental Tracking - Futures contracts: The closing prices of ferrosilicon 2605 and 2607 are 6012 and 6146 respectively, with changes of 30 and 22 compared to the previous trading day. The closing prices of silicomanganese 2605 and 2607 are 6580 and 6620 respectively, with changes of 146 and 148 [1]. - Spot prices: The price of ferrosilicon FeSi75 - B in Inner Mongolia is 5630 yuan/ton, down 20 yuan/ton. The price of silicomanganese FeMn65Si17 in Inner Mongolia is 6230 yuan/ton. The price of manganese ore Mn44 block is 47.5 yuan/ton - degree, down 0.5 yuan/ton - degree. The price of semi - coke small material in Shenmu is 765 yuan/ton [1]. - Price differences: The spot - 05 futures price difference of ferrosilicon is - 382 yuan/ton, down 50 yuan/ton; that of silicomanganese is - 350 yuan/ton, down 146 yuan/ton. The near - far month price difference of ferrosilicon 2605 - 2607 is - 134 yuan/ton, up 8 yuan/ton; that of silicomanganese 2605 - 2607 is - 40 yuan/ton, down 2 yuan/ton. The cross - variety price difference of silicomanganese 2605 - ferrosilicon 2605 is 568 yuan/ton, up 116 yuan/ton; that of silicomanganese 2607 - ferrosilicon 2607 is 474 yuan/ton, up 126 yuan/ton [1]. 3.2 Macro and Industry News - Product prices: On March 27, the price range of 72 ferrosilicon in different regions is 5600 - 5750 yuan/ton, and that of 75 is 5950 - 6100 yuan/ton. The FOB price of 72 ferrosilicon is 1150 - 1170 dollars/ton (+10), and that of 75 is 1170 - 1190 dollars/ton (+10). The northern quotation of 6517 silicomanganese is 6200 - 6300 yuan/ton (+100), and the southern quotation is 6300 - 6400 yuan/ton [1]. - Manganese ore inventory: As of March 27, the inventory in Tianjin Port is 371.35 million tons, a month - on - month increase of 32.71 million tons; the inventory in Qinzhou Port is 125.32 million tons, a month - on - month decrease of 6.86 million tons; the inventory in Caofeidian Port is 0 million tons; the inventory in Fangcheng Port is 4.6 million tons, a month - on - month decrease of 0.4 million tons. The total manganese ore inventory is 501.27 million tons, a month - on - month increase of 25.45 million tons [3]. - Price quotation: United Mining (CML) announced the quotation for China in May 2026. The Australian block with Mn>46%, Fe<4%, and SiO2<18% is quoted at 6 dollars/ton - degree, a month - on - month increase of 0.4 dollars/ton - degree [3]. - Enterprise production: Ningxia Shengyuan Metal Materials Co., Ltd. powered on one 33000kva ferrosilicon furnace and produced iron. Gansu Xinyutong resumed production of two 33000kva ferrosilicon furnaces and produced iron [3]. - Steel mill procurement: A large steel group in Hebei issued a new round of silicomanganese procurement tender in March, with a procurement volume of 5100 tons and a first - round inquiry price of 6300 yuan/ton. A steel mill in Shandong set the latest bid for silicomanganese at 6470 yuan/ton cash - inclusive to the factory, with a procurement volume of 500 tons. The Rizhao company of a steel mill in Shandong finalized the ferrosilicon procurement price at 6080 yuan/ton cash, a 380 - yuan/ton increase from the previous round, with a volume of 300 tons [3]. 3.3 Trend Intensity - The trend intensity of ferrosilicon is 0, and that of silicomanganese is 1 [3]