20230914-南华期货-铁合金日报_等待矛盾兑现_3页

Summary of Ferroalloy Market Analysis

• Date: 2023/9/14
• Market Dynamics: On September 13, silicon manganese (SF Mn) price for the 2311 contract closed at 7056, down 224 points, while silicon iron (SF Fe) for the 2311 contract closed at 7264, down 0.98 points.
• Macro News: The EU Commission is proposing an anti-subsidy investigation into Chinese electric vehicles.
• Industry Info: A Jiangsu steel plant's silicon iron bidding price was set at 7350 yuan/ton (cash including tax, delivered).
• South China Views:
  • Silicon Manganese: Supply is steady with stable enterprise operation, and demand from steel mills is robust; however, downward pressure is growing due to diminishing steel demand and profit compression, leading to interval oscillation while waiting for contradictions to materialize.
  • Silicon Iron: Profit margins are narrowing, which may dampen production enthusiasm; steel demand remains decent from high iron water output, but overall demand for ferrosilicon is weak; prices face downward pressure, but cost supports from materials like magnesium and limited inventory may limit downside, with continued oscillation pending demand confirmation.

Note: This summary is based on the provided report content and excludes the disclaimer section unless specifically requested.