The dual control policy of energy consumption in Yunnan region adds to the increase of manganese and silicon, which soars by nearly 5% and hits a record high
A few days ago, a "Notice on Resolutely Doing a Good Job in Dual Control of Energy Consumption" issued by the Office of the Leading Group for Energy Conservation Work of Yunnan Province went viral all over the network. The document calls for strengthening the control of key industries, involving the steel industry, cement industry, yellow phosphorus industry, green aluminum industry, industrial silicon industry and coal power industry.
Affected by this, the ferroalloy varieties ushered in a surge in the day! Straight Flush ( 300033 ) futures quotes show that the main manganese-silicon contract rose nearly 5% during the intraday session, with the highest price hitting 9,486 yuan/ton, setting a new contract record high; while ferrosilicon also rose slightly by 0.7%, and the price fluctuated at a high level.
Looking ahead, manganese silicon closed the daily limit with a 6% increase on August 30, and then started a big rise. The cumulative increase so far is as high as 18.84%. The bulls can be described as "riding the red dust." At that time, the main factor that led to the surge in manganese and silicon was attributed to the limited production and electricity in Guangxi, and the tight production gap.
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