Core Viewpoint - The silicon manganese market is experiencing a weak consolidation phase with bearish sentiment, influenced by a downward break in the futures market, leading to lower steel procurement and retail transactions [1] Group 1: Market Trends - The overall market for silicon manganese is under pressure, with expectations of further declines as the end of the month approaches and market participants remain cautious [1] - The cost side shows resilience, but this has increased pressure on the silicon manganese market [1] Group 2: Price Changes - The price of silicon manganese 6517 has decreased from 5500-5550 to 5350-5500 in the northern market and from 5500-5600 to 5400-5550 in the southern market [2] - The Silicon Manganese Alloy Index in Hebei region dropped significantly from 5685 to 2232 [2] - Prices for other manganese products, such as Mn42-43% and Mn45-46%, remained stable with slight fluctuations, indicating a mixed pricing environment [2]

Report Title - Manganese Silicon Weekly Report (11.3 - 11.7) [1] Core Viewpoints - From the cost side, the third round of coke price hikes has been implemented and prices are stable after the increase, while the manganese ore market is showing a strong trend, making the cost side of silicon manganese relatively firm. In the northern region, after the second round of coke price hikes in late October, freight rates in the main production areas of Inner Mongolia have increased. In Ningxia, due to the decline in electricity prices last month, the overall cost gap with the main production areas in Inner Mongolia has decreased. [2] - From the supply side, in early November, the silicon manganese market continued the weak and volatile trend of October. In November, the wait - and - see sentiment in both the north and south regions is still strong. In the northern region, there are planned new silicon manganese production capacities, but the specific ignition time depends on the market situation. Currently, northern enterprises mainly focus on fulfilling steel procurement orders and futures warehouse receipts, with a low willingness to quote for retail. In the southern region, the dry season has officially begun, and the electricity price in Yunnan has increased significantly, leading to production cuts in alloy plants. [2] - From the demand side, steel mills will conduct concentrated maintenance in mid - to - late November, with an estimated reduction in production, which may reduce the demand for silicon manganese alloy. Overall, the current silicon manganese market shows a weak and volatile pattern, and the most important factor to watch in November is the impact of steel mill production cuts on the demand for silicon manganese alloy. It is expected that the market will continue to fluctuate in the short term. [2] Summary by Directory Manganese Silicon Supply - **Capacity**: The document presents the monthly capacity of Chinese silicon manganese enterprises [6][7] - **Annual Production**: It shows the annual production of silicon manganese in Guangxi, Guizhou, Inner Mongolia, Ningxia, Yunnan, other regions, and the whole of China [8][9] - **Weekly, Monthly Production and Operating Rate**: The weekly and monthly production of Chinese silicon manganese and the weekly operating rate of Chinese silicon manganese enterprises are presented [10][11] - **Regional Production**: It includes the monthly production of Inner Mongolia, Ningxia, and Guizhou, as well as the daily average production of Inner Mongolia, Ningxia, Guizhou, and Guangxi [12][13] Manganese Silicon Demand - **Steel Procurement Price**: The monthly procurement prices of silicon manganese 6517 by various steel enterprises such as Baosteel, Baowu Egang, and others are shown [15][16] - **Daily Average Hot Metal and Profit**: The weekly daily average hot metal production and profitability of 247 Chinese steel enterprises are presented [17][18] Manganese Silicon Import and Export - The monthly import and export volumes of Chinese silicon manganese iron are presented [19][20] Manganese Silicon Inventory - The weekly inventory of 63 sample silicon manganese enterprises in China, and the monthly average available inventory days in China, the northern region, and the eastern region are presented [21][22] Manganese Silicon Cost - **Manganese Ore Import Volume**: The monthly import volumes of manganese ore from different sources and trade methods are presented [23][24] - **Manganese Ore Port Inventory and Available Days**: The weekly port inventory of manganese ore in China, Qinzhou Port, and Tianjin Port, as well as the weekly average available inventory days in China are presented [25][26] - **High - Grade Manganese Ore Port Inventory**: The weekly port inventory of high - grade manganese ore from different origins in Qinzhou Port and Tianjin Port is presented [27][28] - **Tianjin Port Manganese Ore Price**: The daily price of different types of manganese ore in Tianjin Port is presented [29] - **Regional Cost**: The daily cost of silicon manganese in Inner Mongolia, the northern region, Ningxia, the southern region, and Guangxi is presented [30][31] Manganese Silicon Profit - The daily profit of silicon manganese in the northern region, southern region, Inner Mongolia, Ningxia, and Guangxi is presented [32][33]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The cost of ferrosilicon manganese is further supported by the high prices of manganese ore and coke, as well as the increase in freight for northern manganese ore due to transportation restrictions during the Shanghai Cooperation Organization Summit in Tianjin in late August [2]. - The supply side shows positive production sentiment in alloy plants in both the north and south. Factories in Inner Mongolia and Ningxia have relatively low spot inventories and mainly focus on fulfilling forward orders. The start - up rates in Guangxi and Yunnan are gradually rising [2]. - The demand side is supported by the increase in both the procurement volume and price by Hegang Group in August. Hegang's August silicon - manganese procurement price is 6,200 yuan/ton, up 200 yuan from the first inquiry and 350 yuan from July, and the procurement volume is 16,100 tons, up from 14,600 tons in July [2]. - Overall, the spot price rose significantly this week driven by cost and demand, and the market sentiment is positive. It is expected that the short - term price of ferrosilicon manganese will remain firm, and the market will continue to fluctuate in the short term [2][3]. Summary According to Relevant Catalogs Manganese Silicon Supply - **Capacity**: Data on the monthly capacity of Chinese silicon - manganese enterprises and the annual production of silicon - manganese in different regions of China are presented [7][8]. - **Production - Annual**: No specific text summary content, but annual production data are shown [9]. - **Production - Weekly, Monthly, and Start - up Rate**: Data on the weekly and monthly production of Chinese silicon - manganese and the weekly start - up rate of Chinese silicon - manganese enterprises are provided [11]. - **Production - Regional Production**: Monthly production data of Inner Mongolia, Ningxia, and Guizhou, as well as daily average production data of Inner Mongolia, Ningxia, Guizhou, and Guangxi are presented [12][13]. Manganese Silicon Demand - **Steel Tendering and Procurement Price**: The monthly procurement prices of silicon - manganese by multiple steel companies are shown [16]. - **Daily Average Hot Metal and Profit**: Data on the weekly daily average hot metal production and weekly profitability rate of 247 Chinese steel enterprises are provided [18]. Manganese Silicon Import and Export - Import and export data of ferrosilicon manganese in China are presented, including monthly export and import quantities [20]. Manganese Silicon Inventory - Data on the weekly inventory of 63 sample silicon - manganese enterprises in China and the monthly average available days of inventory in different regions are provided [22]. Manganese Silicon Cost - **Manganese Ore - Import Volume**: Monthly import volume data of manganese ore from different sources and trade methods are presented [24]. - **Manganese Ore - Port Inventory and Available Days**: Data on the weekly port inventory of manganese ore in China and different ports, as well as the weekly average available days of inventory, are provided [26]. - **Manganese Ore - High - Grade Ore Port Inventory**: Weekly port inventory data of high - grade manganese ore from different origins in different ports are presented [28]. - **Manganese Ore - Tianjin Port Manganese Ore Price**: Daily price data of different types of manganese ore in Tianjin Port are provided [29]. - **Regional Cost**: Daily cost data of silicon - manganese in different regions are presented [30]. Manganese Silicon Profit - Daily profit data of silicon - manganese in different regions are presented [32].