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 2000 3000 4000 5000 6000 7000 8000 01/01 02/01 03/01 04/01 05/01 06/01 07/01 08/ ...

Report Industry Investment Rating - No information provided in the report Core Viewpoints - No clear core viewpoints are presented in the given content Summary by Relevant Catalogs Price - On September 12, 2025, for silicon iron, the latest prices of Ningxia 72 and Inner Mongolia 72 were 5250 and 5310 respectively, with no daily change but weekly changes of 50 and 90 [2]. - For silicon manganese, the latest prices of Inner Mongolia 6517, Ningxia 6517, and Guangxi 6517 were 5680, 5600, and 5680 respectively, with daily changes of 0, 50, and 0, and weekly changes of 0, 100, and 0 [2]. Supply - There are data on the production and capacity utilization of 136 silicon iron production enterprises in China, including monthly production and weekly production with a 95% capacity - occupancy ratio [4]. - Data on the production of silicon manganese in China on a weekly basis are also provided [7]. Inventory - For silicon iron, there are data on the inventory of 60 sample enterprises in China, Ningxia, Inner Mongolia, and Shaanxi on a weekly basis [6]. - For silicon manganese, there are data on the inventory of 63 sample enterprises in China on a weekly basis, as well as data on warehouse receipts, effective forecasts, and the sum of them [8]. Cost and Profit - Information on the electricity prices of ferroalloys in Qinghai, Ningxia, Shaanxi, and Inner Mongolia is provided, which affects the production cost of ferroalloys [6]. - There are data on the production cost and profit of silicon iron in Ningxia and Inner Mongolia, and the profit of silicon manganese in Inner Mongolia, Guangxi, the northern and southern regions [6][8].

智通财经APP获悉，世界不锈钢协会发布的2025年第二季度的数据表明，前六个月的不锈钢粗钢产量为 3190万吨。 | 地区 | 十公吨 | | | | 同比(%) | | --- | --- | --- | --- | --- | --- | | | | | Q2 2024 Q1 2025 Q2 2025 Q2 '25/ Q1 '25 Q2 '25/ Q2 '24 | | | | 欧洲 | 1.625 | 1.608 | 1.542 | -4.1 | -5.1 | | 美國 | 518 | 553 | ਦੇ ਦੇ ਰੇ | 1.1 | 7.8 | | 中国 | 10.152 | 9.624 | 10.544 | 9.6 | 3.9 | | 亚洲 (不包括中国) | 3.355 | 3.571 | 3.491 | -2.2 | 4.1 | | 新在 | 219 | 223 | 225 | 1.0 | 2.9 | | | 15.870 | 15.579 | 16.361 | 5.0 | 3.1 | ...

Report Title - "Iron Alloy Morning Report" [1] Report Date - August 22, 2025 [2] Key Information on Silicon Iron Price - For natural silicon iron blocks: in Ningxia 72, the spot price is 5330 with no daily change and a weekly decrease of 170; in Inner Mongolia 72, it's 5300, down 50 daily and 150 weekly; in Qinghai 72, 5300, down 50 daily and 200 weekly; in Shaanxi 72, 5300, no daily change and a 150 weekly decrease; in Shaanxi 75, 5900, no daily change and a 100 weekly increase [2]. - For qualified silicon iron blocks in Jiangsu 72, the spot price is 5600, with no daily change and a 50 weekly decrease [2]. - For silicon iron export prices in Tianjin 72, it's 1055, no daily change and a 30 weekly increase; in Tianjin 75, it's 1110, up 10 daily and 35 weekly [2]. Futures - The main contract price of silicon iron is 5638, up 16 daily and down 106 weekly; the 01 contract is 5614, up 14 daily and down 290 weekly; the 05 contract is 5734, up 6 daily and down 304 weekly; the 09 contract is 5454, up 8 daily and down 290 weekly [2]. Spreads - The main - month basis is - 8, down 16 daily and 64 weekly; the 1 - 5 month spread is - 120, up 8 daily and 14 weekly; the 5 - 9 month spread is 280, down 2 daily and 14 weekly; the 9 - 1 month spread is - 160, down 6 daily and no weekly change; the double - silicon main spread is - 200, up 14 daily and 106 weekly [2]. Key Information on Silicon Manganese Price - For silicon manganese production areas: in Inner Mongolia 6517, the ex - factory price is 5750, no daily change and a 50 weekly decrease; in Ningxia 6517, it's 5570, down 30 daily and 300 weekly; in Guangxi 6517, 5780, down 20 daily and 120 weekly; in Guizhou 6517, 5730, down 20 daily and 140 weekly; in Yunnan 6517, 5730, down 20 daily and 140 weekly; in Guangxi 6014, 5250, down 50 daily and 50 weekly [2]. Futures - The main contract price of silicon manganese is 5838, up 2 daily and down 212 weekly; the 01 contract is 5838, up 2 daily and down 306 weekly; the 05 contract is 5888, up 2 daily and down 290 weekly; the 09 contract is 5746, down 10 daily and 304 weekly [2]. Spreads - The main - month basis is 132, down 32 daily and up 82 weekly; the 1 - 5 month spread is - 50, no daily change and a 16 weekly decrease; the 5 - 9 month spread is 142, up 12 daily and 14 weekly; the 9 - 1 month spread is - 92, down 12 daily and up 2 weekly [2]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Directory Price - For silicon ferroalloy, the latest prices for different regions and types on August 19, 2025, are presented, including natural blocks in Ningxia (72 at 5480 yuan), Inner Mongolia (72 at 5450 yuan), etc., with corresponding daily and weekly changes. For silicon manganese, the prices of different regions and types are also given, such as Inner Mongolia 6517 at 5820 yuan, with price changes [2]. - Multiple price - related historical data charts for silicon ferroalloy and silicon manganese from 2021 - 2025 are presented, including market prices, export prices, and contract closing prices [3][4][6]. Supply - For silicon ferroalloy, data on the production of 136 enterprises in China (monthly and weekly), capacity utilization in Inner Mongolia, Ningxia, and Shaanxi, and the export volume of China are provided. For silicon manganese, the production in China (weekly), procurement volume and price of Hebei Iron and Steel Group are presented [4][6]. Demand - Data on the demand for silicon manganese in China (in ten thousand tons, according to Steel Union's caliber), the production forecast of crude steel in China (monthly, in ten thousand tons), and the procurement volume of silicon ferroalloy by Hebei Iron and Steel Group are provided [4][7]. Inventory - For silicon ferroalloy, the inventory data of 60 sample enterprises in China (weekly), warehouse receipt quantity, effective forecast, and inventory average available days in different regions are provided. For silicon manganese, the warehouse receipt quantity, effective inventory, and inventory of 63 sample enterprises in China (weekly, in tons) are presented [5][7]. Cost and Profit - For silicon ferroalloy, data on electricity prices in different regions, the market price of semi - coke, production cost in Ningxia and Inner Mongolia, and corresponding profits are provided. For silicon manganese, the profits in Inner Mongolia, Guangxi, and different regions, as well as the profit of Guangxi silicon manganese converted to the main contract are presented [5][7].

Report Date - The report is dated August 11, 2025 [3] Price - The report presents the prices of different grades of ferrosilicon (FeSi) and silicomanganese (SiMn) in various regions from 2021 to 2025, including 72% FeSi in Inner Mongolia, Qinghai, Ningxia, Shaanxi, Jiangsu, and Tianjin, as well as 75% FeSi in Shaanxi [1][2][6] - It also shows the prices of related products such as silicon carbide - ferrosilicon spread, silicon - manganese spread, and the export and import average prices of ferrosilicon [2][4] Supply - The supply section includes the production data of ferrosilicon and silicomanganese, such as the monthly production of 136 ferrosilicon enterprises in China and the weekly production of silicomanganese in China from 2021 to 2025 [4][6] - The capacity utilization rates of ferrosilicon production enterprises in Inner Mongolia, Ningxia, and Shaanxi are also provided [4] Demand - The demand part shows the demand data of ferrosilicon and silicomanganese, including the estimated and actual production of crude steel in China, the production of stainless steel, and the procurement volume and price of ferrosilicon and silicomanganese by Hebei Iron and Steel Group [4][6][7] - The demand for silicomanganese in China (Steel Union caliber) is also presented [4][7] Inventory - The inventory section provides the inventory data of ferrosilicon and silicomanganese, such as the weekly inventory of 60 ferrosilicon sample enterprises in China, Ningxia, Inner Mongolia, and Shaanxi, as well as the inventory of silicomanganese in China [5][7] - It also shows the number of warehouse receipts, effective forecasts, and the sum of warehouse receipts and effective forecasts for ferrosilicon and silicomanganese [5][7] Cost and Profit - The cost and profit part includes the cost data such as electricity prices in different regions for ferroalloys, the market price of semi - coke, and the production cost of ferrosilicon in Ningxia and Inner Mongolia [5] - The profit data such as the production profit of semi - coke in China, the profit of ferrosilicon exports, and the profit of silicomanganese in different regions are also presented [5][7]

Report Industry Investment Rating - No relevant content provided Core Viewpoints - No clear core viewpoints presented in the given content Summary by Related Catalogs Price - Silicon Ferrosilicon: The latest prices of 72 silicon ferrosilicon in different regions are as follows: 5500 in Ningxia, 5500 in Inner Mongolia, 5450 in Qinghai, 5450 in Shaanxi, 5600 in Jiangsu, 6050 in Tianjin; the price of 75 silicon ferrosilicon in Shaanxi is 5850, and in Tianjin is 1075. The closing price of the main contract is 5908, with a daily change of 192 and a weekly change of -100 [1][3] - Silicon Manganese: The latest prices of 6517 silicon manganese in different regions are: 5850 in Inner Mongolia, 5800 in Ningxia, 5900 in Guangxi, 5850 in Guizhou, 5850 in Yunnan; the closing price of the main contract is 6096, with a daily change of 78 and a weekly change of -20 [3] Supply - Silicon Ferrosilicon: The production capacity utilization rates of 136 silicon ferrosilicon production enterprises in Inner Mongolia, Ningxia, and Shaanxi show different trends from 2021 - 2025. The weekly production of 136 silicon ferrosilicon enterprises in China (with a capacity share of 95%) also varies over the years [4] - Silicon Manganese: The weekly production of silicon manganese in China from 2021 - 2025 shows different values, and the procurement volume and price of 6517 silicon manganese by HeSteel Group also change monthly [6] Demand - Silicon Ferrosilicon: The demand - related data include the production forecast of crude steel in China, the production of stainless - steel crude steel in China, the procurement volume of FeSi75 - B by HeSteel Group, etc., which all show different trends from 2021 - 2025 [4] - Silicon Manganese: The demand for silicon manganese in China (according to the Steel Union's caliber) shows an upward trend from 2021 - 2025, and the export volume also changes over the years [4][7] Inventory - Silicon Ferrosilicon: The inventory data of 60 sample enterprises in China, Ningxia, Inner Mongolia, and Shaanxi, as well as the CZCE's silicon ferrosilicon warehouse receipt quantity, effective forecast, and the sum of warehouse receipts and effective forecasts all show different trends from 2021 - 2025. The average available days of inventory in different regions also vary [5] - Silicon Manganese: The CZCE's silicon manganese warehouse receipt quantity, effective forecast, and the sum of warehouse receipts and effective inventory, as well as the inventory of 63 sample enterprises in China, all show different trends from 2021 - 2025. The average available days of inventory in China also change over the years [7] Cost and Profit - Silicon Ferrosilicon: The electricity prices in different regions (Inner Mongolia, Qinghai, Ningxia, Shaanxi), the market price of blue carbon in Shaanxi, and the production cost, profit from converting to the main contract, and spot profit in Ningxia and Inner Mongolia all show different trends from 2021 - 2025 [5] - Silicon Manganese: The profit of silicon manganese in Inner Mongolia, Guangxi, the northern and southern regions (according to the Steel Union's caliber), and the profit from converting to the main contract in Guangxi and Ningxia all show different trends from 2021 - 2025 [7]

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - Not provided in the given content Summary by Related Catalogs Price - For silicon iron, prices vary by region and grade, with different daily and weekly changes. For example, the latest price of 72 silicon iron in Ningxia is 5500, with a daily change of 0 and a weekly change of 270 [1]. - For silicon manganese, there are also price differences across regions and varieties, and price trends are presented over different time periods [5]. Supply - The production of silicon iron by 136 Chinese enterprises (with a capacity - share of 95%) shows different trends from 2021 - 2025, and the capacity utilization rates in Inner Mongolia, Ningxia, and Shaanxi also vary [3]. - The weekly production of silicon manganese in China from 2021 - 2025 is provided, and the procurement volume and price of silicon manganese by Hebei Iron and Steel Group are also presented [5]. Demand - The demand for silicon manganese in China (in ten thousand tons) from 2021 - 2025 is shown, and the relationship between silicon iron demand and factors such as steel production is also reflected in related data [3][6]. Inventory - The inventory of 60 sample silicon - iron enterprises in China shows different trends from 2021 - 2025, and the inventory situation of silicon manganese also has corresponding data [4][6]. Cost and Profit - The cost and profit of silicon iron and silicon manganese in different regions are presented, including production costs, spot profits, and export profits [4][6].

Report Industry Investment Rating - Not provided in the content Core Viewpoint - Not provided in the content Summary by Relevant Catalogs Price - For silicon ferroalloy on July 24, 2025, the latest price of Ningxia 72 natural block was 5550, with a daily change of 250 and a weekly change of 350; the price of Inner Mongolia 72 was 5500, with a daily change of 200 and a weekly change of 250; the price of Qinghai 72 was 5500, with a daily change of 150 and a weekly change of 300; the price of Shaanxi 72 was 5500, with a daily change of 200 and a weekly change of 350; the price of Shaanxi 75 was 5750, with a daily change of 50 and a weekly change of 100; the price of Jiangsu 72 qualified block was 5800, with a daily change of 50 and a weekly change of 200; the price of Tianjin 72 for traders was 5750, with a daily change of 50 and a weekly change of 300; the export price of Tianjin 72 was 1025 (USD), with a daily change of 20 and a weekly change of 20; the export price of Tianjin 75 was 1070 (USD), with a daily change of 15 and a weekly change of 15 [2] - For silicon manganese on July 24, 2025, the ex - factory price of Inner Mongolia 6517 was 5750, with a daily change of 50 and a weekly change of 150; the price of Ningxia 6517 was 5800, with a daily change of 100 and a weekly change of 200; the price of Guangxi 6517 was 5720, with a daily change of 20 and a weekly change of 70; the price of Guizhou 6517 was 5700, with a daily change of 50 and a weekly change of 100; the price of Yunnan 6517 was 5700, with a daily change of 50 and a weekly change of 100; the price of Guangxi 6014 was 5100, with no daily or weekly change; the price of Ningxia 6517 for traders was 5800, with a daily change of 100 and a weekly change of 200; the price of Jiangsu 6517 was 5940, with a daily change of - 40 and a weekly change of 170 [2] Supply - For silicon ferroalloy, data on the production of 136 enterprises in China (monthly), the production of 136 silicon ferroalloy enterprises in China (weekly, capacity accounting for 95%), the capacity utilization rate of 136 silicon ferroalloy production enterprises in Inner Mongolia (monthly), Ningxia (monthly), Shaanxi (monthly), and the start - up rate of 136 silicon ferroalloy production enterprises (weekly, capacity accounting for 95%) from 2021 - 2025 are presented [5] - For silicon manganese, data on the production of silicon manganese in China (weekly), the procurement price and quantity of silicon manganese 6517 by Hebei Iron and Steel Group (monthly), and the start - up rate of silicon manganese enterprises in China (%) from 2021 - 2025 are presented [7] Demand - For silicon ferroalloy, data on the estimated and revised production of crude steel in China (monthly, in 10,000 tons), the production of metal magnesium (Mg99.9%) in China (tons), the start - up rate of 87 independent electric arc furnace steel mills in China (weekly, sample accounting for 60.45%), the export quantity of silicon ferroalloy in China (monthly), the production of stainless - steel crude steel in China (monthly, in 10,000 tons), the procurement quantity and price of FeSi75 - B by Hebei Iron and Steel Group (monthly), and the demand for silicon manganese in China (in 10,000 tons, according to Steel Union) from 2021 - 2025 are presented [5] - For silicon manganese, data on the demand for silicon manganese in China (in 10,000 tons, according to Steel Union), the estimated and revised production of crude steel in China (monthly, in 10,000 tons), and the export quantity of silicon manganese in China (monthly) from 2021 - 2025 are presented [5][8] Inventory - For silicon ferroalloy, data on the inventory of 60 sample enterprises in China (weekly), in Ningxia (weekly), in Inner Mongolia (weekly), in Shaanxi (weekly), the total number of warehouse receipts on CZCE (daily), the valid forecast (daily), the sum of warehouse receipts and valid forecast (daily), the average available days of inventory in East China (monthly), in South China (monthly), in the North region (monthly), and in China (days) from 2021 - 2025 are presented [6] - For silicon manganese, data on the total number of warehouse receipts on CZCE (daily), the total valid forecast (daily), the sum of warehouse receipts and valid inventory (daily), the single - side trading position on CZCE (daily, in lots), the inventory of 63 sample enterprises in China (weekly, in tons), and the average available days of inventory in China (monthly) from 2021 - 2025 are presented [8] Cost and Profit - For silicon ferroalloy, data on electricity prices in Inner Mongolia, Qinghai, Ningxia, and Shaanxi, the market mainstream price of small - sized blue coke in Shaanxi, the start - up rate of blue coke in China (weekly), the production profit of blue coke in China (daily), the market price of 98% silica in Northwest China, the market price of 70% Fe iron oxide scale in Shijiazhuang, the production cost of silicon ferroalloy in Ningxia, the profit of Ningxia silicon ferroalloy converted to the main contract on the disk, the spot profit of Ningxia silicon ferroalloy, the single - side trading position on CZCE (daily, in lots), the export profit of 75 silicon ferroalloy, the production cost of silicon ferroalloy in Inner Mongolia, and the profit of Inner Mongolia silicon ferroalloy converted to the main contract on the disk from 2021 - 2025 are presented [6] - For silicon manganese, data on the profit of silicon manganese in Inner Mongolia, Guangxi, the North region, the South region, the profit of Guangxi silicon manganese converted to the main contract on the disk, and the profit of Ningxia silicon manganese converted to the disk from 2021 - 2025 are presented [8]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Not provided in the content Summary by Relevant Catalogs Price - For silicon ferroalloy on July 22, 2025, the latest prices of Ningxia 72 and Inner Mongolia 72 were 5280 and 5300 respectively, with daily changes of 50 and weekly changes of 80 and 100 [2]. - The latest price of Qinghai 72 silicon ferroalloy natural block was 5300, with a daily change of 50 and a weekly change of 100 [2]. - The latest price of Shaanxi 72 silicon ferroalloy was 5230, with a daily change of 50 and a weekly change of 80; the price of Shaanxi 75 was 5650, with no daily change and a weekly change of 50 [2]. - The latest price of Jiangsu 72 silicon ferroalloy qualified block was 5600, with no daily or weekly change; the price of Tianjin 72 for traders was 5600, with a daily change of 100 and a weekly change of 70 [2]. - The export prices of Tianjin 72 and Tianjin 75 silicon ferroalloy were 1005 and 1055 respectively, with no daily change and a weekly change of -5 [2]. - For silicon manganese on July 22, 2025, the ex - factory prices of Inner Mongolia 6517, Ningxia 6517, Guangxi 6517, Guizhou 6517, and Yunnan 6517 were 5680, 5680, 5700, 5650, and 5650 respectively, with daily changes of 50, 50, 30, 30, 30 and weekly changes of 80, 130, 50, 50, 50 [2]. - The price of Guangxi 6014 silicon manganese was 5100, with no daily or weekly change; the prices of Ningxia 6517 and Jiangsu 6517 for traders were 5680 and 5880 respectively, with daily changes of 50 and 90 and weekly changes of 130 and 130 [2]. Supply - Information on the production and capacity utilization of 136 silicon ferroalloy enterprises in China is provided, including monthly production, weekly production (with a capacity share of 95%), and monthly capacity utilization in Inner Mongolia, Ningxia, and Shaanxi [4]. - The production and capacity utilization of silicon manganese enterprises in China are also presented, such as weekly production and enterprise - level capacity utilization [7]. Demand - Data on the demand for silicon ferroalloy and silicon manganese in China are provided, including the demand for silicon manganese (in ten thousand tons, according to the Steel Union's caliber), and the procurement volume and price of silicon ferroalloy and silicon manganese by Hebei Iron and Steel Group [4][7][8]. - Information on the production of related downstream products such as crude steel, metal magnesium, and stainless - steel crude steel is also included, which reflects the demand for ferroalloys [4]. Inventory - For silicon ferroalloy, the inventory data of 60 sample enterprises in China, Ningxia, Inner Mongolia, and Shaanxi on a weekly basis are provided, as well as the daily data of CZCE silicon ferroalloy warehouse receipts, effective forecasts, and the sum of warehouse receipts and effective forecasts [6]. - For silicon manganese, the daily data of CZCE silicon manganese warehouse receipts, effective forecasts, and the sum of warehouse receipts and effective forecasts, as well as the inventory data of 63 sample enterprises in China on a weekly basis are presented [8]. Cost and Profit - For silicon ferroalloy, data on electricity prices in Qinghai, Ningxia, Shaanxi, and Inner Mongolia, the market price and production profit of semi - coke, and the production cost and profit of silicon ferroalloy in Ningxia and Inner Mongolia are provided [6]. - For silicon manganese, the cost - related data such as the ex - factory price of chemical coke and the price of manganese ore, and the profit data in Inner Mongolia, Guangxi, the northern region, and the southern region are presented [7][8].