20250620-永安期货-铁合金早报_5页_897kb

报告摘要

Market Overview: Prices for silicon iron and silicomanganese show minor fluctuations, with most regions maintaining stable levels. Overall market sentiment is steady, influenced by supply-demand dynamics and export activity.
Demand: Robust demand from stainless steel production and metal magnesium output supports prices. China's crude steel production remains high, with adjustments noted in targeted estimates.
Supply: Production levels are stable, with average capacity utilization around 70-80%. Key players like China's 136 iron ore firms report consistent output, but minor weekly variations exist.
Inventory: Stock levels are moderate, with inventory availability sufficient in most areas; however, some regions report decreasing profit margins due to cost pressures.
**Prices:**现货 prices for silicon iron range from 5100 to 5500 CNY/ton across regions, with daily changes typically between -50 and +50. Silicomanganese similar, with regional premiums/discounts varying. Export prices are active, particularly in dollars.

Producer (宁夏#72): 5100 CNY/ton, daily change -50, weekly change +100; premium to delivery: 5100.
Producer (内蒙古#72): 5100 CNY/ton, unchanged daily, weekly change +50.
Market Trends: Regional prices are stable, with slight increases in some weeks. Baseline contracts like主力合约 and 01合约 show small daily movements (e.g., +20 points).

Producer (宁夏#6517): 5380 CNY/ton, daily change -50, weekly change +30.
Market Dynamics: Similar to silicon iron, prices indicate minor fluctuations; demand from stainless steel applications is key. Export activity in silicomanganese market shows steady engagement.

Inventory Levels: Average inventory availability around 1-3 months, with regional variations; CZCE reports moderate to high stocks.
Profit Margins: Production costs influenced by regional electricity prices (e.g., 0.48-0.60 CNY/kWh), leading to slight decreases in profit (e.g., negative territory in some cases).

Demand: High for ferrosilicon and silicomanganese due to automotive and alloy industries. Notable growth in metal magnesium exports.
Supply: Capacity utilization steady at 60-70%, with stable output forecasts. However, some producers report minor adjustments to align with market needs.

For detailed data, refer to attached reports.

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