SMM Manganese Ore Weekly Review: Miner Offers Remain Firm, Manganese Ore Market Stabilizes After Decline

As of this Friday, at northern ports: Australian lump ore was priced at 47-47.5 yuan/mtu, down 2.07% MoM; Australian seed ore at 41-41.5 yuan/mtu, flat MoM; South African semi-carbonate ore at 37.5-38 yuan/mtu, flat MoM; Gabonese ore at 46.5-47.5 yuan/mtu, down 2.08% MoM; South African high-iron ore at 30-30.5 yuan/mtu, flat MoM. At southern ports: Australian lump ore was priced at 45-45.5 yuan/mtu, flat MoM; Australian seed ore at 42-42.5 yuan/mtu, flat MoM; South African semi-carbonate ore at 36-36.5 yuan/mtu, flat MoM; Gabonese ore at 44-46 yuan/mtu, flat MoM; South African high-iron ore at 29.5-30 yuan/mtu, flat MoM.

During the week, port manganese ore inventories continued to deplete slowly, remaining at relatively low levels. Downstream alloy plants were active in inquiring about manganese ore, but actual transactions were sluggish. Approaching month-end, some alloy plants faced shortages in manganese ore inventories and made small purchases. Miners remained optimistic about restocking purchases by alloy plants, with offers staying firm during the week, leading to a stabilization in the manganese ore market. Attention should be paid to future manganese ore shipments and changes in actual purchases by alloy plants.