On June 5th, according to the analysis of Minmetals Futures, on Tuesday, under the background of the weakening of the overall commodity atmosphere, the main force of manganese silicon fell sharply to the support range of 8100-8400 yuan/ton and then rebounded, recovering the intraday decline and continuing to reduce its position significantly.

Jinshi Futures, June 5th, according to Minmetals Futures analysis, on Tuesday, under the background of weakening the overall commodity atmosphere, the main force of manganese silicon fell sharply to the support range of 8100-8400 yuan/ton and rebounded. It recovered its intraday decline and continued to reduce its position significantly. It closed down 0.23% during the day and closed at 8608 yuan/ton. From the fundamental perspective of manganese silicon itself, the historically high inventory, the supply that continued to rise, and the still relatively weak demand fundamentals have not changed at all, and the overall situation is still loose. However, it is noted that the main logic of this round of the market is that the shipment of Australian manganese ore has been blocked. The current South32 manganese ore in Australia is still unable to be sent out. The expectation that high-grade manganese ore will gradually tighten in the later stage still exists. After the end of this round of correction, the price is still likely to rise again and come out of the second half. Although this is the case, we still point to the risk of a short-term rapid decline in the disk from an objective perspective. The current trend of the disk is in line with our expectations, and the correction speed exceeds our expectations but is reasonable. For the current price, we believe that there is still room for adjustment, but it may be relatively repeated, so we are cautious to participate.