Manganese Ore Shipments Decrease: Future Price Trends [SMM Analysis]

【SMM Analysis: Reduced Manganese Ore Shipments, Future Price Trends】 As of this Wednesday, northern ports: Australian lump at 49-49.5 yuan/mtu; Australian fines at 41.5-42 yuan/mtu; South African semi-carbonate at 38-38.5 yuan/mtu; Gabonese ore at 47-49 yuan/mtu; South African high-iron ore at 30-30.5 yuan/mtu. Southern ports: Australian lump at 44.5-45 yuan/mtu; Australian fines at 42.5-43 yuan/mtu; South African semi-carbonate at 36.5-37 yuan/mtu; Gabonese ore at 44-46 yuan/mtu; South African high-iron ore at 29.5-30 yuan/mtu. According to market information, CML's manganese ore shipments from Australia may be delayed from February to March due to the impact of a cyclone. Currently, flooding in Australia has disrupted inland transportation, and local mines have suspended operations. Additionally, market sources indicate that Comilog's Gabonese manganese ore terminal will undergo maintenance from February to early March, which is expected to reduce manganese ore shipments in the future. In terms of supply, future manganese ore shipments are expected to decrease slightly. Furthermore, port manganese ore inventory remains relatively low, suggesting a relatively tight supply of manganese ore in the future. Coupled with concentrated manganese ore ownership at ports and limited market circulation, large miners exhibit a strong sentiment to stand firm on quotes. In terms of demand, downstream alloy plants continue to operate at low rates, showing cautious procurement of manganese ore and low acceptance of high-priced manganese oxide ore. Particularly in south China, alloy plants face high production costs due to expensive manganese ore, and previously idled alloy plants show weak willingness to resume production. Additionally, alloy plants had sufficient manganese ore stockpiling before the Chinese New Year, leading to weak procurement enthusiasm at present.