[SMM investigation] investigation on the trend mentality of Manganese Mine

In early April, 64% of manganese miners said that mining prices were affected by a rebound in profits from downstream alloy plants, which tried to push up prices but were unable to fully accept high prices due to higher port inventories and low profits at alloy plants last month. However, the quotations of overseas miners are slightly higher than last month, and the cost support is heavier, so the short-term manganese ore prices are mainly stable. 18% of the industry said that the profit of downstream manufacturers picked up in March, there is still room and possibility of price increases, 6% of the industry believes that mining prices will fall slightly, mainly due to high inventory digestion of high inventory, resulting in some businesses low price shipments; 12% of the industry has reservations about the future market, and it is not certain that the steel price will affect the profit of the downstream market.