5月13日，A股三大股指集体高开，深证成指高开近1%，创业板指涨超1%，盘中深证成指、创业板指双双翻绿，上证指数涨幅亦收窄。 银行板块温和走强，若按照复权价计，多只银行股股价创历史新高。另外，A股市场多只航运股盘中大幅走强。 港股市场今天上午整体走低，医药生物板块逆势大涨，成为上午港股市场主要亮点之一。 A股主要指数涨跌不一多只银行股复权价创历史新高 5月13日，A股三大股指早盘巨震，深证成指、创业板指盘中双双翻绿。截至中午收盘，上证指数上涨0.08%，深证成指下跌0.24%，创业板指下跌0.23%。 | 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 北证50 | | 3371.86 | 10276.61 | 1413.93 | | +2.61 +0.08% -24.54 -0.24% | | -5.20 -0.37% | | 科创50 | 创业板指 | 万得全A | | 1010.03 | 2059.88 | 5128.04 | | -1.20 -0.12% -4.83 -0.23% -8.74 -0.17% | | | | 沪深300 | ...

库存 成本利润 -10000 10000 30000 50000 70000 90000 110000 130000 150000 01/01 01/24 02/16 03/11 04/03 04/26 05/19 06/11 07/04 07/27 08/19 09/11 10/04 10/27 11/19 12/12 硅铁：60家样本企业：库存：中国（周） 2021 2022 2023 2024 2025 0 5000 10000 15000 20000 25000 30000 01/01 01/26 02/20 03/17 04/11 05/06 05/31 06/25 07/20 08/14 09/08 10/03 10/28 11/22 12/17 硅铁：60家样本企业：库存：宁夏（周） 2021 2022 2023 2024 2025 0 10000 20000 30000 40000 50000 60000 70000 80000 01/01 01/26 02/20 03/17 04/11 05/06 05/31 06/25 07/20 08/14 09/08 10/03 10/28 11/22 ...

业务方面，天工股份与苹果供应链企业常州索罗曼深度合作。据华金证券研报，2022年常州索罗曼被纳 入苹果供应链；相应的，公司于2022年11月开始向常州索罗曼批量供应消费电子用钛合金线材，常州索 罗曼也自2022年成为公司第一大客户；2023年起，受益于钛金属在消费电子领域开启的大规模应用，公 5月13日，有一只新股上市，为北交所的天工股份（920068.BJ）。 天工股份主要从事钛及钛合金材料的研发、生产与销售，产品以板材、管材、线材等形式广泛应用于化 工、消费电子等领域。公司为国家级专精特新"小巨人"企业、高新技术企业。 | 今日上市 | | | | | --- | --- | --- | --- | | 920068.BJ 天工股份 | | | | | 发行价(元/股) 机构报价(元/股) | | 市值(亿元) | 所属行业 | | 3.94 | | | 有色金属合金制造 | | 发行市盈率 行业市盈率 | | 可比公司 | 可比公司动态市盈率 | | 15.19 17.44 | | 宝钛股份 | 29.67 64.33 | | | | 西部材料 | | | | | 西部超导 | 37.99 | | 业绩 ...

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1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - On May 12, the manganese - silicon 2509 contract closed at 5866, up 1.80%. The spot price of Inner Mongolia silicon - manganese remained stable at 5550. After the Sino - US Geneva economic and trade talks, most of the additional tariffs imposed on goods since April 2 have been cancelled, leading to a significant recovery in the commodity market. Ferroalloys have negative production profits, low production enthusiasm on the supply side, and rising port inventories of imported manganese ore. The overall arrival of manganese ore in May is expected to increase month - on - month, and downstream hot metal production may peak and decline. Steel mills' procurement is cautious, and the market should be treated as oscillating. [2] - On May 12, the silicon - iron 2507 contract closed at 5636, up 1.55%. The spot price of Ningxia silicon - iron rose by 50 to 5510. From January to April this year, the national railway completed 194.7 billion yuan in fixed - asset investment, a year - on - year increase of 5.3%. Ferroalloys have negative production profits, and the maintenance of large factories in Ningxia affects market sentiment. The downstream metal magnesium market price has rebounded, but the overall demand for steel is still weak. The market should be treated as oscillating. [2] 3. Summary According to Relevant Catalogs 3.1 Futures Market - SM (Manganese - Silicon) main contract closing price was 5,866 yuan/ton, up 108 yuan; SF (Silicon - Iron) main contract closing price was 5,636 yuan/ton, up 154 yuan. - SM futures contract positions decreased by 13,582 to 621,718 hands; SF futures contract positions increased by 7,963 to 481,715 hands. - The net positions of the top 20 in manganese - silicon decreased by 8,516 to - 27,836 hands; the net positions of the top 20 in silicon - iron decreased by 4,344 to - 25,370 hands. - The SM 9 - 5 contract spread increased by 12 to 80 yuan/ton; the SF 9 - 5 contract spread decreased by 10 to - 60 yuan/ton. - SM warehouse receipts decreased by 881 to 118,816; SF warehouse receipts decreased by 32 to 18,876. [2] 3.2 Spot Market - The price of Inner Mongolia manganese - silicon FeMn68Si18 remained at 5,550 yuan/ton; the price of Inner Mongolia silicon - iron FeSi75 - B rose by 50 to 5,610 yuan/ton. - The price of Guizhou manganese - silicon FeMn68Si18 remained at 5,500 yuan/ton; the price of Qinghai silicon - iron FeSi75 - B rose by 50 to 5,520 yuan/ton. - The price of Yunnan manganese - silicon FeMn68Si18 rose by 50 to 5,500 yuan/ton; the price of Ningxia silicon - iron FeSi75 - B rose by 50 to 5,510 yuan/ton. - The manganese - silicon index average decreased by 105.42 to 5,497 yuan/ton; the SF main contract basis decreased by 104 to - 126 yuan/ton. - The SM main contract basis decreased by 108 to - 316 yuan/ton. [2] 3.3 Upstream Situation - The price of South African ore: Mn38 block in Tianjin Port remained at 32 yuan/ton - degree; the price of silica (98% in the northwest) remained at 210 yuan/ton. - The price of Inner Mongolia Wuhai secondary metallurgical coke remained at 1,070 yuan/ton; the price of semi - coke (medium - sized in Shenmu) remained at 670 yuan/ton. - Manganese ore port inventories increased by 23.10 to 394.80 million tons. [2] 3.4 Industry Situation - The manganese - silicon enterprise operating rate decreased by 3.21 to 37.53%; the silicon - iron enterprise operating rate increased by 1.78 to 32.53%. - Manganese - silicon supply decreased by 10,780 to 172,025 tons; silicon - iron supply increased by 3,900 to 102,900 tons. - Manganese - silicon manufacturers' inventories increased by 25,300 to 207,100 tons; silicon - iron manufacturers' inventories decreased by 0.99 to 7.37 million tons. - The national steel mill inventory days of manganese - silicon decreased by 1.17 to 15.44 days; the national steel mill inventory days of silicon - iron decreased by 0.82 to 15.44 days. [2] 3.5 Downstream Situation - The demand for manganese - silicon in the five major steel types decreased by 2,350 to 125,861 tons; the demand for silicon - iron in the five major steel types decreased by 224.10 to 20,336.30 tons. - The blast furnace operating rate of 247 steel mills increased by 0.29 to 84.64%; the blast furnace capacity utilization rate of 247 steel mills increased by 0.08 to 92.11%. - The monthly crude steel output increased by 16.8722 million tons to 92.8414 million tons. [2] 3.6 Industry News - Ningxia Yinhe added maintenance for 2 45,000 - kVA silicon - iron furnaces, reducing daily output by 200 - 300 tons. - At the end of 2024, China's bond market balance was 177 trillion yuan, ranking second in the world. Bond financing accounted for 40% of the incremental social financing scale, and the bond trading volume reached 460 trillion yuan. - At the end of 2024, the global public debt exceeded 100 trillion US dollars, accounting for about 93% of the global GDP, and is expected to rise to about 100% in 2030. - From 2012 - 2022, the average annual growth rate of the equity value of state - owned enterprises was 13.8%. [2]

供应 需求 800 1300 1800 2300 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/01 10/01 11/01 12/01 硅铁：72%FeSi：出口价格：天津港 （美元/吨） 2021 2022 2023 2024 2025 800 1300 1800 2300 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/01 10/01 11/01 12/01 硅铁：75%FeSi：出口价格：天津港 （美元/吨） 2021 2022 2023 2024 2025 -2500 -1500 -500 500 1500 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/01 10/01 11/01 12/01 硅铁-硅锰主力合约价差（元/吨） 2021 2022 2023 2024 2025 0 2000 4000 6000 8000 10000 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/01 09/0 ...

铁合金期货周报 宁 夏 结 算 电 价 下 调 ， 合 金 急 跌 后 反 弹 广发期货APP 微信公众号 作者：徐艺丹 联系方式：020-88818017 从业资格证：F03125507 投资咨询：Z0020017 本报告中所有观点仅供参考，请务必阅读此报告倒数第二页的免责声明。 品种观点 | | | 基本面来看，硅铁日产环比小幅回升，经过前期减产供应压力有所缓解，厂库延续降库，但整体库存仍处于中高 水平。需求端，铁水产量维持高位，钢厂利润修复，成材社库累库及表需冲高回落，关注后续出口边际变化。非 钢需求方面，金属镁节前厂家去库支撑价格，但下游需求采购谨慎，同时海外报价走高但询盘减少，买家对高价 接受力度有限。成本端，兰炭价格持稳，低库存叠加供应缩减，供需矛盾有限。电价方面，5月宁夏不再是电力现 货市场结算，电价或有回升可能，短期电价扰动告一段落。展望后市，短期硅铁供需矛盾有所缓解，成本端电价 变化仍需跟踪，兰炭暂时企稳，短期价格缺乏明显驱动，预计价格震荡运行。 区间震荡，区间参考5300- 5650 区间震荡，短期参考 5500-5900 本周海外矿山锰矿远期报价继续下调，伴随进口亏损利润加深，锰矿贸易商 ...

国内市场综述 弱势整理 缩量回调 周五（5 月 9 日）大盘弱势整理，震荡回调。截至收 盘，上证综指收于 3342 点，下跌 0.3%；深成指收于 10126.83 点，下跌 0.69%；科创 50 下跌 1.96%；创业 板指下跌 0.87%，万得全 A 成交额共 12224 亿元，较 前一日有所下降。 行业方面，30 个中信一级行业有 5 个行业收涨，其中 银行、纺织服装及家电涨幅居前，而综合金融、国防 军工及计算机则跌幅较大。概念方面，央企银行、火 电及饲料精选等指数表现活跃。 海外市场综述 美国三大股指多数收跌，特斯拉大涨 4.72% 周五（5 月 9 日），美国三大股指多数收跌，道指跌 0.29%，标普 500 指数跌 0.07%，纳指持平。安进、默 克跌超 2%，领跌道指。万得美国科技七巨头指数涨 0.16%，特斯拉大涨 4.72%，苹果涨 0.53%。中概股涨 跌不一，理想汽车跌 2.2%。 新闻精要 1. 中美经贸高层会谈在瑞士日内瓦举行 2. 证监会印发《推动公募基金高质量发展行动方案》 3. 4 月我国 CPI 环比由上月下降 0.4%转为上涨 0.1% 4. 王毅分别同印巴双方通电话 风 ...

重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每周观点 本周观点： 交易咨询业务资格：证监许可【2012】1091号 锰硅周报5.6-5.9 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证号：Z0021337 联系方式：0575-85226759 原料端，锰矿市场成交冷清，现货价格持续偏弱运行。供应端，目前硅锰厂减停产计划仍存，盘面偏强震荡，硅锰现 货价格止跌企稳。需求端，下游钢厂多等待主流钢招进场，市场散单成交冷清，市场多持观望态度。 下周行情预测： 硅锰市场供需双弱，现货价格偏弱运行，预计下周锰硅价格偏弱为主。 2 -2000元/吨 0元/吨 2000元/吨 4000元/吨 6000元/吨 8000元/吨 10000元/吨 12000元/吨 14000元/吨 2020-01-01 2020-08-01 2021-03-01 2021-10-01 2022-05-01 2022-12-01 2023-07-01 2024-02-01 2024 ...

Group 1 - The event on May 10 marked the ninth "China Brand Day," organized by the Foshan Market Supervision Administration, aimed at enhancing the quality and brand leadership of Foshan's manufacturing industry [1] - Four brand lists were released, including the "Bay Area Certification" brand list, "Top 50 Craftsmanship Quality Brand Enterprises in Foshan," "Top 10 Intellectual Property Innovation Brand Enterprises in Foshan," and "Top 10 Brand Figures in Foshan," with 99 enterprises and 10 outstanding entrepreneurs recognized [1] - Foshan has cultivated 684 "Leading Enterprises Standards," ranking first in the country for five consecutive years, promoting quality upgrades and brand efficiency through standard enhancements [1] Group 2 - In 2024, Foshan evaluated 98 enterprises across various sectors, establishing 138 Foshan standards and approving 434 Foshan standard products, indicating a growing standard brand matrix [2] - The mayor of Foshan emphasized the need to strengthen the "Have a Home, Have Foshan Manufacturing" brand, aligning with the goal of creating a "New Foshan" [2] - Foshan aims to enhance product quality through advanced quality management tools and the implementation of a Chief Quality Officer system, encouraging the transformation of new technologies into advanced standards [2] Group 3 - The Deputy Director of the Guangdong Market Supervision Administration expressed hopes for collaboration among government, industry associations, and enterprises to empower quality and brand development [3] - Foshan is encouraged to continue implementing the quality strong country strategy and support enterprises in innovation to enhance product variety and quality [3] - The focus is on creating a favorable environment for brand development, promoting high-quality growth, and achieving modernization in China [3]