[SMM Manganese Ore Weekly Review] Miners Show Strong Sentiment to Stand Firm on Quotes, Spot Prices Rise Slightly

Published: Mar 14, 2025 17:38

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As of this Friday, at northern ports: Australian lump ore was priced at 48-48.5 yuan/mtu, up 2.12% WoW; Australian fines at 41-41.5 yuan/mtu, flat WoW; South African semi-carbonate at 37.5-38 yuan/mtu, flat WoW; Gabonese ore at 47-49 yuan/mtu, up 2.13% WoW; and South African high-iron ore at 30-30.5 yuan/mtu, flat WoW. At southern ports: Australian lump ore was priced at 45-45.5 yuan/mtu, up 2.26% WoW; Australian fines at 42-42.5 yuan/mtu, flat WoW; South African semi-carbonate at 36-36.5 yuan/mtu, flat WoW; Gabonese ore at 44-46 yuan/mtu, up 2.27% WoW; and South African high-iron ore at 29.5-30 yuan/mtu, flat WoW. During the week, overseas miners conducted a four-day strike, redirecting manganese ore exports to third-party terminals. Affected by this news, manganese ore supply is expected to decrease. Coupled with the persistently low manganese ore inventory at domestic ports, the supply of manganese ore remains at a low level. Miners showed strong expectations for price increases, with offers trending upward. However, downstream alloy plants were cautious in purchasing manganese ore, with some pressing for lower prices. Actual transactions in the manganese ore market progressed slowly. Currently, the tug-of-war between sellers and buyers in the manganese ore market continues, and attention should be paid to the future trends of silicon-manganese alloy futures and changes in alloy plants' manganese ore procurement.

During the week, overseas miners conducted a four-day strike, redirecting manganese ore exports to third-party terminals. Affected by this news, manganese ore supply is expected to decrease, coupled with persistently low manganese ore inventory at domestic ports, keeping supply at low levels. Miners showed strong expectations for price increases, with offers trending upward. However, downstream alloy plants remained cautious in purchasing manganese ore, with some pressing for lower prices, leading to slow follow-up in actual transactions. Currently, the manganese ore market is experiencing a tug-of-war between sellers and buyers, and further attention is needed on the future performance of silicon-manganese alloy futures and changes in alloy plants' manganese ore procurement.

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