9日双硅主力合约震荡上行硅铁涨幅较大。成本端来看，冶金焦价格、电价持稳，氧化铁皮价格连续三日下跌后持稳，天津港澳矿、半碳酸价格整体上调，硅锰成本上行，利润区间被压缩，硅铁成本持稳。整体供给端双硅均有增量，需求量明显下滑，库存量基本维持不变，基本面持续走弱。1月钢招基本结束，目前黑色系情绪波动转弱，整体厂家生产以前期订单为主，冶金焦有进一步下行可能，建议轻仓操作，双硅以高空为主。
　　

研究报告全文：铁合金数据日报2023110品种日内观点9日双硅主力合约震荡上行硅铁涨幅较大成本端来看冶金焦价格电价持稳氧化铁皮价格连续三日硅铁下跌后持稳天津港澳矿半碳酸价格整体上调硅锰成本上行利润区间被压缩硅铁成本持稳整体供给端双硅均有增量需求量明显下滑库存量基本维持不变基本面持续走弱1月钢招基本结束目前黑色系情绪波动转弱整体厂家生产以前期订单为主冶金焦有进一步下行可能建议轻仓操作硅锰双硅以高空为主产业链数据项目数据环比项目数据环比宁夏硅铁现价80000硅铁2305结算价8296146内蒙硅铁现价80000硅铁2301结算价866456期现货市场宁夏锰硅现价73000锰硅2305结算价7608118内蒙锰硅现价73000锰硅2301结算价768890硅铁2305基差-296-146硅铁1-5价差368-90硅铁2301基差-664-56硅铁5-9价差506基差及价差锰硅2305基差-308-118锰硅1-5价差80-28锰硅2301基差-388-90锰硅5-9价差686宁夏硅铁利润82650宁夏锰硅利润-3447575-226665利润内蒙硅铁利润74250内蒙锰硅利润-3867575-326665硅铁230582万-09万锰硅2305174万15万持仓情况硅铁230108万00万锰硅230102万00万主要图表图1硅铁现货价格元吨图2硅锰现货价格元吨宁夏硅铁内蒙硅铁宁夏硅锰内蒙硅锰190001500017000130001500013000110001100090009000700070005000500030003000202021202061202071202111202181202221202231202011202031202041202051202081202091202121202131202141202151202161202171202191202211202241202251202261202271202281202291202311202031202051202091202141202151202171202241202261202271202311202011202021202041202061202071202081202111202121202131202161202181202191202211202221202231202251202281202291202210120201012020111202012120211012021111202112120221112022121202010120201212021111202112120201112021101202210120221112022121图3硅铁现货利润元吨图4硅锰现货利润元吨宁夏虚拟利润内蒙虚拟利润内蒙虚拟利润宁夏虚拟利润140001500120001000100005008000600004000-5002000-10000-2000201913202013202113202213202313图5硅铁05合约基差图6硅铁01合约基差SF2001基差SF2101基差SF2201基差SF2301基差SF2005基差SF2005基差SF2105基差SF2205基差50007000600040005000300040002000300010002000010000-1000-1000-2000-2000116216316416516616716816916101611161216516616716816916101611161216116216316416图7硅锰05合约基差图8硅锰01合约基差SM2005基差SM2105基差SM2205基差SM2305基差SM2001基差SM2101基差SM2201基差SM2301基差40003000250030002000150020001000100050000-500-1000-1000516616716816916101611161216116216316416116216316416516616716816916101611161216图9硅铁1-5价差图10硅铁5-9价差SF2001-SF2005SF2101-SF2105SF2201-SF2205SF2301-SF2305SF2005-SF2009SF2105-SF2109SF2205-SF2209SF2305-SF230925003500200030001500250010002000500150001000-500500-10000-1500-500-2000-10009161016111612161162163164165206962971988828917107102711161261226115图11硅锰1-5价差图12硅锰5-9价差SM2001-SM2005SM2101-SM2105SM2201-SM2205SM2301-SM2305SM2005-SM2009SM2105-SM2109SM2205-SM2209SM2305-SM23092000150015001000100050050000-500-500-1000-10005206962971988828917107102711161261226115918101811181218118218318418免责声明本报告由东吴期货研究所制作及发布报告是基于本公司认为可靠的且目前已公开的信息撰写本公司力求但不保证该信息的准确性和完整性所表述的意见并不构成对任何人的投资建议投资者需自行承担风险未经本公司事先书面授权不得对本报告进行任何有悖原意的引用删节修改及用于其它用途