[SMM Manganese Ore Weekly Review] Overseas quotes Rose, Miners Showed Sentiment to Stand Firm on Prices

Published: Nov 29, 2024 17:34 (GMT+8)

Source: SMM

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This week, manganese ore inventory at both northern and southern ports decreased slowly, with overall inventory levels remaining high.

As of this Friday, at northern ports: Australian lump was 42.5-43 yuan/mtu (flat WoW); Australian granular were 39-39.5 yuan/mtu (flat WoW); South African semi-carbonate was 33-33.5 yuan/mtu (up 1.53% WoW); Gabonese ore was 37.5-38 yuan/mtu (up 1.34% WoW); South African high-iron ore was 29-29.5 yuan/mtu (flat WoW). At southern ports: Australian lump was 43.5-44 yuan/mtu (down 1.13% WoW); Australian granular were 40.5-41 yuan/mtu (flat WoW); South African semi-carbonate was 33-33.5 yuan/mtu (flat WoW); Gabonese ore was 41-41.5 yuan/mtu (flat WoW); South African high-iron ore was 29.5-30 yuan/mtu (flat WoW).

This week, manganese ore inventory at both northern and southern ports decreased slowly, with overall inventory levels remaining high. Inventory at southern ports was lower than at northern ports, resulting in relatively higher spot prices for manganese ore in the south. Due to a slight rise in overseas quotes for South African semi-carbonate, the spot prices for South African semi-carbonate fluctuated upward, narrowing the price spread between northern and southern regions. However, due to relatively lower inventory in the south, high-priced South African semi-carbonate saw better transactions in the south compared to the north. Prices of other manganese ores remained relatively stable, with the market running steadily. Miners strongly anticipated a price increase, with a weak willingness to sell at low prices. It is expected that this sentiment will continue next week, and attention should be paid to the actual procurement situation of manganese ore by alloy plants in the future.

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