According to the latest release from the General Administration of Customs, SMM statistics show that in September 2024, China's total manganese ore imports were 2.73 million mt, up 4.56% MoM, but down 10.18% YoY. The cumulative imports from January to September were 21.66 million mt, up 6.21% YoY. September manganese ore imports increased slightly, with China importing 126,900 mt of Australian manganese ore in September 2024, up 39.01% MoM; 1.448 million mt of South African manganese ore, down 16.15% MoM; 408,800 mt of Gabonese manganese ore, up 320.97% MoM; 409,600 mt of Ghanaian manganese ore, up 0.44% MoM; 143,400 mt of Brazilian manganese ore, up 2489.56% MoM; and 20,800 mt of Myanmar manganese ore, down 80.18% MoM.
Due to September being the regular procurement season for manganese ore, alloy plants are expected to increase their demand for manganese ore procurement, leading to a 5% MoM increase in manganese ore imports. Among these, the imports of Australian and Gabonese manganese ore were significant, mainly because alloy plants still primarily use high-grade manganese oxide ore in production, showing high enthusiasm for procuring Australian and Gabonese ore. Looking ahead, with port manganese ore inventory at a relatively high level and alloy plants' procurement of manganese ore being lower-than-expected, the manganese ore market is expected to remain oversupplied, and manganese ore prices are expected to fluctuate downward.
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn