【SMM Analysis：Regular Procurement Season: September Manganese Ore Imports Increase MoM.】

Published: Oct 21, 2024 18:00

Source: SMM

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【SMM Analysis：Regular Procurement Season: September Manganese Ore Imports Increase MoM.】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.

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.

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