[SMM Daily Review] Manganese Ore Market Was Temporarily Stable

Published: Oct 8, 2024 15:30

Source: SMM

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After the National Day holiday, the manganese ore market appeared somewhat chaotic.

Northern Ports: Australian lump 43.50-44 yuan/mtu; Australian granular 42-42.50 yuan/mtu; South African semi-carbonate 31-31.50 yuan/mtu; Gabon 42-42.50 yuan/mtu; South African high iron 30.50-31 yuan/mtu. Southern Ports: Australian lump 42.50-43 yuan/mtu; Australian granular 41-41.50 yuan/mtu; South African semi-carbonate 30-30.50 yuan/mtu; Gabon 41-41.50 yuan/mtu; South African high iron 29-29.5 yuan/mtu.

After the National Day holiday, the manganese ore market appeared somewhat chaotic, with mixed high and low prices. Influenced by macro policies, miners were eager to follow the price increase, with some quoting high prices, but actual transactions were limited. Post-holiday, miners' quoting sentiment was conflicted. On one hand, downstream SiMn alloy plants showed weak willingness to sell at low prices, and miners intended to follow the rise in manganese ore prices. On the other hand, SiMn alloy futures fluctuated downward after opening, and Comilog reduced the quote for Gabonese lump scheduled for November 2024 shipment to $3.95/mtu. Therefore, most miners adopted a wait-and-see attitude.

Market review

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