[SMM Data] Regular Procurement Season: September Manganese Ore Imports Increased MoM

Published: Oct 23, 2024 10:32

Source: SMM

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According to the latest release from the General Administration of Customs, in September 2024, China's total manganese ore imports were 2.73 million mt, up 4.56% MoM, but down 10.18% YoY.

According to the latest release from the General Administration of Customs, 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. In September, manganese ore imports increased slightly. Specifically, in September 2024, China imported 126,900 mt of Australian manganese ore, 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 procurement from manganese plants, 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, resulting in high procurement enthusiasm for Australian and Gabonese ore. Looking ahead, the current port inventory of manganese ore is at a relatively high level, and alloy plants' procurement of manganese ore is lower-than-expected. Currently, the manganese ore market is oversupplied, and manganese ore prices are expected to fluctuate downward.

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