[SMM Daily Review] Overseas Strike News Causes Disruption, Miners' Offers Rise Slightly

Published: Mar 11, 2025 13:48

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[SMM Daily Review] Overseas Strike News Causes Disruption, Miners' Offers Rise Slightly March 11: Northern Ports: Australian lump at 48-48.5 yuan/mtu, up 2.12% MoM; Australian fines at 41-41.5 yuan/mtu, flat MoM; South African semi-carbonate at 37.5-38 yuan/mtu, flat MoM; Gabonese ore at 47-49 yuan/mtu, up 2.13% MoM; South African high-iron ore at 30-30.5 yuan/mtu, flat MoM. Southern Ports: Australian lump at 45-45.5 yuan/mtu, up 2.26% MoM; Australian fines at 42-42.5 yuan/mtu, flat MoM; South African semi-carbonate at 36-36.5 yuan/mtu, flat MoM; Gabonese ore at 44-46 yuan/mtu, up 2.27% MoM; South African high-iron ore at 29.5-30 yuan/mtu, flat MoM. Port manganese ore continues slow destocking, with manganese ore inventory remaining at relatively low levels. Disrupted by overseas miners' strike news, miners' offers remain firm with strong reluctance to sell. Currently, high-grade manganese oxide ore is in short supply, leading to a slight increase in miners' offers, while willingness to sell at low prices is weak. Other manganese ore varieties show relatively small fluctuations, maintaining a consolidating trend. Downstream alloy plants have sufficient manganese ore inventory and remain cautious in procurement. Further attention is needed on changes in manganese ore demand from alloy plants in the future.

March 11 News: Northern ports: Australian lump at 48-48.5 yuan/mtu, up 2.12% MoM; Australian fines at 41-41.5 yuan/mtu, flat MoM; South African semi-carbonate at 37.5-38 yuan/mtu, flat MoM; Gabonese ore at 47-49 yuan/mtu, up 2.13% MoM; South African high-iron ore at 30-30.5 yuan/mtu, flat MoM. Southern ports: Australian lump at 45-45.5 yuan/mtu, up 2.26% MoM; Australian fines at 42-42.5 yuan/mtu, flat MoM; South African semi-carbonate at 36-36.5 yuan/mtu, flat MoM; Gabonese ore at 44-46 yuan/mtu, up 2.27% MoM; South African high-iron ore at 29.5-30 yuan/mtu, flat MoM.

Port manganese ore continues slow destocking, with manganese ore inventory remaining relatively low. Affected by disruptions from overseas mine worker strikes, miners' offers remain firm with strong reluctance to sell. Currently, high-grade manganese oxide ore is in short supply, and miners' offers have risen slightly, with weak willingness to sell at low prices. Other manganese ore varieties show relatively small fluctuations, maintaining a consolidating trend. Downstream alloy plants have sufficient manganese ore inventory and remain cautious in procurement. Further attention is needed on changes in manganese ore procurement demand from alloy plants in the future.

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