September 3, 2024:Silicon Manganese Latest News
Sep 03, 2024
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Silicon manganese market is weak and stable. On the supply side, according to the statistics of 187 independent silicon manganese enterprises in China: the operating rate (capacity utilization rate) of China 47.09%, down 1.12% from last week; Average daily production of 26,005 tons, down 450 tons; China's silicon manganese production (weekly supply 99%) : 182,045 tons, down 1.70% from last week, Yunnan and northern production areas operating rate fluctuation is not large, Ningxia individual plant is expected to reach normal load after the resumption of production at the end of this month, the rest of the southern cost inverted, continued load reduction stop production, chemical coke continuous decline, cost support is weak. On the demand side, individual steel mills maintain the reduction of production and passive storage, steel prices rebounded slightly, the sentiment of the plate picked up, but the fundamental contradictions have not been significantly alleviated, and it is expected to remain volatile in the short term. Pay attention to the subsequent production reduction of manufacturers and the demand of steel mills to resume production. Strategy suggestion: SM2501 contract lower open lower, closed down 2.57%, the operation is recommended to be treated with weak shock in the short term, please pay attention to risk control.
