After the opening of trading this morning, manganese silicon and ferrosilicon rose strongly, both sealing the trading limit. As of the draft, the main contract of manganese silicon futures was 10760 yuan / ton, and the main contract of ferrosilicon futures was 13048 yuan / ton. The price of ferrosilicon has maintained an upward trend since the beginning of the year, nearly doubling the price at the beginning of the year, and the price of manganese and silicon has risen 37% in just one month since the end of August.
On September 22nd, the average spot price of SMM Guizhou Si-mn 6517 (acceptance) was 10000 yuan / ton, up 2.3% from the previous trading day, and up more than 2000 yuan / ton in the past month.
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In the spot market, silicon and manganese prices remain high and chaotic today. Under the influence of high futures prices, spot quotations are generally on the high side, and manufacturers have an obvious mentality of sparing sales at low prices. However, due to the influence of long-term power cuts and production restrictions, the spot market is in short supply. Some downstream procurement is urgent, and there are still a few transactions at high prices. Overall, the market wait-and-see mentality is obvious, the price of silicon and manganese may continue to operate at a high level in the short term.
At the beginning of last week, the situation of power and production restrictions in the main producing areas intensified, the south is more severe than the north, and there is a serious shortage of spot stock in the market. Starting from the middle of the week, enterprises that could still produce before Guangxi also began to face closure, and manufacturers in Ningxia, Yunnan and other places also closed to varying degrees. Affected by the re-reduction of production, silicon-manganese pallets rose several times, and the spot price broke through 9000 yuan / ton. Later, due to the influence of the downstream demand and the serious shortage of spot goods, the result became more and more intense. The actual transaction price at the weekend was about 9600 yuan / ton in cash.
Generally speaking, although the downstream is also facing a reduction in production, the output of silicon and manganese is less than that of the downstream, the overall confidence of the market is good, and the bullish mentality of all parties in the future is obvious. SMM believes that in the current market situation, the price of silicon and manganese is expected to rise slightly this week.
