[SMM Manganese Ore Weekly Review] Tug-of-War Between Supply and Demand Continues, Spot Market Fluctuates Downward

As of this Friday, at northern ports: Australian lump ore was priced at 48-48.5 yuan/mtu, down 2.03% WoW; Australian fines at 41-41.5 yuan/mtu, down 1.20% WoW; South African semi-carbonate at 37.5-38 yuan/mtu, down 1.31% WoW; Gabonese ore at 46.5-48.5 yuan/mtu, down 1.04% WoW; and South African high-iron ore at 30-30.5 yuan/mtu, unchanged WoW. At southern ports: Australian lump ore was priced at 44-44.5 yuan/mtu, down 1.12% WoW; Australian fines at 42-42.5 yuan/mtu, down 1.17% WoW; South African semi-carbonate at 36-36.5 yuan/mtu, down 1.11% WoW; Gabonese ore at 43.5-45.5 yuan/mtu, down 2.17% WoW; and South African high-iron ore at 29.5-30 yuan/mtu, unchanged WoW. Manganese ore inventories at ports remained relatively low, but downstream alloy plants showed weak enthusiasm for purchasing manganese ore, leading to a slow destocking of port inventories. Miners were less willing to actively offer prices, maintaining a bullish outlook on the manganese ore market and showing a strong tendency to withhold supplies. Manganese silicon futures continued to fluctuate downward, and alloy plants showed low acceptance of high-priced manganese ore, opting to negotiate lower prices for purchases. Currently, the manganese ore market is experiencing a tug-of-war between sellers and buyers, with spot prices continuing to fluctuate downward, and upward pressure on manganese ore prices remains significant.