News summary

On May 24, the main contract of manganese and silicon futures rose by 2.5%.originone3reel.57%, the market showed a volatile upward trend. Guoxin Futures recommends wait-and-see, Shenyin Wanguo Futures reminds attention to operational risks, and China-Thailand Futures is optimistic about the long-term trend of manganese and silicon.

Newsletter text

[The domestic ferrous metal market is in a rally, and the main contract of manganese and silicon futures performs well]

On May 24originone3reelIn the domestic futures market, most varieties in the ferrous metal sector rose. The main contract of manganese and silicon futures was particularly eye-catching. Its opening price was 8,788.00 yuan/ton, and then the market fluctuated at a high level, achieving a 2.16% increase in early trading. As of now, the highest price of the main manganese and silicon contract has reached 8,888.00 yuan, and the lowest price is 8,692.00 yuan, showing an overall increase of about 2.57%.

Market analysts pointed out that the manganese and silicon market is currently showing a volatile upward trend, and the overall market performance is strong. Regarding the future trend of manganese and silicon, many institutions have given their own views.

Guoxin Futures mentioned that as the price of manganese and silicon rises, production profits recover, and output is also recovering. According to Mysteel data, the operating rate of a sample of 187 independent manganese and silicon companies across the country reached 47.28%, an increase of 4.53% from last week, and the average daily output increased to 26630 tons, an increase of 1615 tons. The rebound in manganese and silicon production has intensified tensions in manganese mines, but downstream steel mills are not willing to receive goods. At the same time, due to the impact of the exchange's one-day opening of positions, market investors are advised to maintain a wait-and-see attitude.

Shenyin Wanguo Futures pointed out that the pace of production by manufacturers is accelerating, but considering the limited increase in demand, the tight supply and demand in the market may not be sustainable. Investors need to be cautious about the upper limit space for manganese silicon and ferrosilicon prices, and pay attention to the recent increased fluctuations in manganese silicon panels and operational risks. At the same time, they should pay attention to the resumption of production by double silicon manufacturers and the limited shipment of Australian mines. They predict that the fluctuation range of SM2409 will be 8,200 - 9,200 yuan, and the fluctuation range of SF2409 will be 6,900 - 7,500 yuan.

China-Thailand Futures analyzed that the fundamentals of the double silicon market have not changed much. There is limited room for downside in the price of blue carbon at the cost of ferrosilicon. The auction price of Shaanxi Hongliulin lump coal has increased, and blue carbon may have support. However, the spot profit of ferrosilicon was high. After the market fell sharply, although the point-to-point profit was compressed, it still exceeded 500 yuan/ton. The fundamentals of manganese and silicon remained stable, and the transaction prices of a small amount of manganese ore and silicon-manganese did not change significantly. Comprehensive analysis shows that the long-term trend of manganese ore pushing up the cost of manganese and silicon remains unchanged. The ferrosilicon market will maintain range fluctuations, with large short-term market fluctuations. Investors need to pay attention to intraday risks and operate cautiously. In the long run, the manganese-silicon market is optimistic, while the ferrosilicon market is dominated by intraday operations.