As of this Friday, at northern ports, Australian lump ore was priced at 39-39.5 yuan/mtu, down 3.68% WoW; Australian seed ore at 38-39 yuan/mtu, down 1.28% WoW; South African semi-carbonate ore at 33.5-34 yuan/mtu, down 1.46% WoW; Gabonese ore at 37.5-38.5 yuan/mtu, down 3.80% WoW; South African high-iron ore at 30.5-31 yuan/mtu, down 1.60% WoW. At southern ports, Australian lump ore was priced at 41.5-42 yuan/mtu, down 2.34% WoW; Australian seed ore at 39.5-40 yuan/mtu, down 2.45% WoW; South African semi-carbonate ore at 34.5-35 yuan/mtu, down 1.42% WoW; Gabonese ore at 40.5-41.5 yuan/mtu, down 2.38% WoW; South African high-iron ore at 29-29.5 yuan/mtu, down 1.68% WoW. During the week, there was a slight inventory buildup of manganese ore at ports. Downstream alloy plants showed slightly active inquiries before the Labour Day holiday, but actual transactions were sluggish. Severely affected by losses, alloy plants had a strong willingness to reduce or halt production, leading to weak demand for manganese ore raw materials. Some alloy plants made just-in-time procurement of manganese ore in small quantities, with weak sentiment for large-scale stockpiling.

In 2024, the global NEV industry continued to thrive, and the power battery market, as a core component, also showed robust growth. According to data from the China Automotive Power Battery Industry Innovation Alliance, China's cumulative power battery installations reached 548.4 GWh in 2024, up 41.5% YoY. This growth rate reflects the robust demand for power batteries in the domestic NEV market. Throughout the year, 55 power battery enterprises in China's NEV market achieved installation support, an increase of 4 YoY. The top 10 power battery enterprises accounted for 524.1 GWh of installations, representing 95.6% of the total. Market competition intensified, but the concentration effect among leading enterprises was also evident.