Report Industry Investment Rating - Not provided in the content Core Viewpoint - Not provided in the content Summary by Relevant Catalogs Price - Various prices of silicon ferroalloys (FeSi) and silicon manganese (SiMn) in different regions from 2021 - 2025 are presented, including market prices, export/import prices, and contract closing prices [1][2][6] - Price differences between different grades and regions are also shown, such as 72%FeSi and 75%FeSi, and price spreads between regions like the north - south spread of SiMn [1][6] Supply - Production data of silicon ferroalloys and silicon manganese are provided, including monthly and weekly production volumes, and capacity utilization rates in different regions [4][6] - The supply - related data cover 136 sample enterprises for silicon ferroalloys and the overall production situation of silicon manganese in China [4][6] Demand - Demand - related data include the demand volume of silicon manganese in China, and the procurement volume and price of FeSi75 - B by HeSteel Group [4][6][7] - Production data of related industries like crude steel, stainless - steel, and metal magnesium are also presented, which are relevant to the demand for ferroalloys [4] Inventory - Inventory data of silicon ferroalloys and silicon manganese are provided, including inventory levels of sample enterprises in different regions, warehouse receipts, and effective forecasts [5][7] - Inventory average available days in different regions and the whole country are also shown [5][7] Cost and Profit - Cost - related data include electricity prices in different regions and the market price of semi - coke in Shaanxi [5] - Profit data cover the production profit of semi - coke, the profit of silicon ferroalloys in different regions, and the profit of silicon manganese in different regions [5][7]

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - Not provided in the given content Summary by Relevant Catalogs Price - For silicon ferroalloy on September 5, 2025, the latest prices of 72 silicon ferroalloy in Ningxia and Inner Mongolia were 5200 and 5220 respectively, with daily changes of 0 and -30, and weekly changes of -120 and -130 [2]. - The latest price of 72 silicon ferroalloy in Qinghai was 5200, with a daily change of -50 and a weekly change of -150; the latest price of 72 silicon ferroalloy in Shaanxi was 5200, with a daily change of 0 and a weekly change of -100; the latest price of 75 silicon ferroalloy in Shaanxi was 5950, with a daily change of 0 and a weekly change of 50 [2]. - For silicon manganese on September 5, 2025, the latest prices of 6517 silicon manganese in Inner Mongolia, Ningxia, Guangxi, Guizhou and Yunnan were 5680, 5500, 5680, 5650 and 5650 respectively, with different daily and weekly changes [2]. Supply - The production data of 136 silicon ferroalloy enterprises in China from 2021 - 2025 are presented, including monthly production, weekly production (with a capacity - share of 95%), and monthly capacity utilization rates in Inner Mongolia, Ningxia and Shaanxi [4]. - The production data of silicon manganese in China from 2021 - 2025 are presented, including weekly production and the purchase prices and quantities of 6517 silicon manganese by Hebei Iron and Steel Group [6]. Demand - Various demand - related data from 2021 - 2025 are shown, such as the estimated and statistical monthly production of crude steel in China, the purchase volume and price of FeSi75 - B silicon ferroalloy by Hebei Iron and Steel Group, and the demand for silicon manganese in China (Steel Union's caliber) [4][6][7]. Inventory - The inventory data of 60 sample silicon ferroalloy enterprises in China from 2021 - 2025 are presented, including weekly inventory in China, Ningxia, Inner Mongolia and Shaanxi, as well as daily warehouse receipts, effective forecasts, and inventory average available days in different regions [5]. - The inventory - related data of silicon manganese from 2021 - 2025 are shown, including daily warehouse receipts, effective forecasts, warehouse receipts + effective inventory, and the inventory average available days in China, as well as the inventory of 63 sample enterprises in China (weekly, in tons) [7]. Cost Profit - The cost - profit data of silicon ferroalloy from 2021 - 2025 are presented, including electricity prices in different regions, the market price of blue charcoal, production costs and profits in Ningxia and Inner Mongolia, and the export profit of 75 silicon ferroalloy [5]. - The cost - profit data of silicon manganese from 2021 - 2025 are shown, including the profit in Inner Mongolia, Guangxi, the northern and southern regions (Steel Union's caliber), and the profit of Guangxi silicon manganese converted to the main contract [7].

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoint No clear core viewpoint presented in the given content, which mainly consists of price, supply, demand, inventory, and cost - profit data of ferrosilicon and silicomanganese. 3. Summary by Related Catalogs Price - For ferrosilicon on June 27, 2025, the latest price of Ningxia 72 natural block was 5130 yuan, with a daily change of 30 yuan and a weekly change of 30 yuan; the export price of Tianjin 72 was 1020 US dollars, with no daily change and a weekly decrease of 35 US dollars [2]. - For silicomanganese on June 27, 2025, the latest price of Inner Mongolia 6517 at the production area was 5520 yuan, with a daily change of 20 yuan and a weekly change of 40 yuan [2]. Supply - The production data of 136 ferrosilicon enterprises in China from 2021 - 2025 are presented, including monthly production, weekly production, and capacity utilization in Inner Mongolia [4]. - The production data of silicomanganese in China from 2021 - 2025 are shown, such as weekly production and enterprise start - up rate [6]. Demand - Ferrosilicon demand - related data include export prices at Tianjin Port, export quantity in China, and procurement volume and price of Hebei Iron and Steel Group from 2021 - 2025 [4]. - Silicomanganese demand - related data involve the estimated demand in China and export quantity from 2021 - 2025 [7]. Inventory - Ferrosilicon inventory data include the inventory of 60 sample enterprises in China, inventory in Ningxia, and warehouse receipt data from 2021 - 2025 [5]. - Silicomanganese inventory data cover warehouse receipt quantity, effective forecast, and inventory of 63 sample enterprises in China from 2021 - 2025 [7]. Cost Profit - Ferrosilicon cost - profit data include electricity prices in different regions, Lanthanum carbon prices, production costs in Ningxia and Inner Mongolia, and corresponding profits from 2021 - 2025 [5]. - Silicomanganese cost - profit data involve the profits in Inner Mongolia, Guangxi, and other regions from 2021 - 2025 [7].

Report Title - Iron Alloy Morning Report [1] Report Date - June 19, 2025 [2] Price Summary Silicon Ferrosilicon (FeSi) - **Spot Prices**: In various regions, prices for different grades of FeSi showed mixed changes. For example, the price of Ningxia 72 FeSi natural block remained stable at 5050 yuan, with a weekly increase of 50 yuan; Inner Mongolia 72 FeSi natural block increased by 50 yuan to 5100 yuan, with no weekly change [2]. - **Export Prices**: The export price of Tianjin 72 FeSi remained at 1055 US dollars, and the export price of Tianjin 75 FeSi remained at 1095 US dollars [2]. - **Futures Prices**: Different contracts of FeSi futures showed varying degrees of increase. For example, the main contract of FeSi increased by 26 yuan to 5290 yuan, with a weekly increase of 106 yuan [2]. Silicon Manganese (SiMn) - **Spot Prices**: The ex - factory prices of SiMn in different regions increased to varying degrees. For example, the ex - factory prices of Inner Mongolia 6517 and Ningxia 6517 SiMn increased by 30 yuan to 5480 yuan and 5430 yuan respectively, with a weekly increase of 50 yuan [2]. - **Futures Prices**: Different contracts of SiMn futures also showed increases. For example, the main contract of SiMn increased by 20 yuan to 5556 yuan, with a weekly increase of 70 yuan [2]. Supply - Related Information Silicon Ferrosilicon - **Production Capacity Utilization**: The production capacity utilization of 136 silicon ferrosilicon production enterprises in different regions showed certain trends over time from 2021 - 2025 [4]. - **Production Volume**: The monthly production volume of 136 silicon ferrosilicon enterprises in China and the weekly production volume of 136 silicon ferrosilicon enterprises (with a capacity share of 95%) showed different trends from 2021 - 2025 [4]. Silicon Manganese - **Production Volume**: The weekly production volume of silicon manganese in China showed different trends from 2021 - 2025 [6]. - **Enterprise Start - up Rate**: The start - up rate of silicon manganese enterprises in China showed different trends from 2021 - 2025 [6]. Demand - Related Information Silicon Ferrosilicon - **Related Industries**: The demand for silicon ferrosilicon is related to industries such as the production of crude steel, stainless steel, and metal magnesium. The production volume of these industries showed different trends from 2021 - 2025 [4]. Silicon Manganese - **Demand in China**: The demand for silicon manganese in China (according to the Steel Union's caliber) showed different trends from 2021 - 2025 [4][7]. Inventory - Related Information Silicon Ferrosilicon - **Enterprise Inventory**: The inventory of 60 sample silicon ferrosilicon enterprises in different regions (such as Ningxia, Inner Mongolia, and Shaanxi) showed different trends from 2021 - 2025 [5]. - **Warehouse Receipts and Effective Forecasts**: The total number of warehouse receipts of silicon ferrosilicon on the CZCE, effective forecasts, and the sum of warehouse receipts and effective forecasts showed different trends from 2021 - 2025 [5]. Silicon Manganese - **Warehouse Receipts and Inventory**: The total number of warehouse receipts of silicon manganese on the CZCE, effective forecasts, and the sum of warehouse receipts and effective inventory showed different trends from 2021 - 2025 [7]. - **Enterprise Inventory**: The inventory of 63 sample silicon manganese enterprises in China showed different trends from 2021 - 2025 [7]. Cost - Profit - Related Information Silicon Ferrosilicon - **Cost**: The production costs of silicon ferrosilicon in Ningxia and Inner Mongolia showed different trends from 2021 - 2025 [5]. - **Profit**: The profits of silicon ferrosilicon in Ningxia (including folding the main - contract profit and spot profit) and Inner Mongolia (folding the main - contract profit) showed different trends from 2021 - 2025 [5]. Silicon Manganese - **Cost**: The cost of silicon manganese is related to factors such as the price of chemical coke and manganese ore. The prices of these raw materials showed different trends from 2021 - 2025 [6]. - **Profit**: The profits of silicon manganese in Inner Mongolia, Guangxi (including folding the main - contract profit), and Ningxia (folding the main - contract profit) showed different trends from 2021 - 2025 [6][7].