[SMM Weekly Manganese Ore Review] Purchases by alloy plants are sluggish, and spot prices are under pressure

As of Wednesday this week, at northern ports: Australian lump ore was priced at 38-38.5 yuan/mtu, down 3.77% WoW; Australian seed ore was priced at 37-38 yuan/mtu, down 3.85% WoW; South African semi-carbonate ore was priced at 32.5-33 yuan/mtu, down 2.96% WoW; Gabon ore was priced at 36.5-37.5 yuan/mtu, down 3.90% WoW; South African high-iron ore was priced at 30.5-31 yuan/mtu, unchanged WoW. At southern ports: Australian lump ore was priced at 40-40.5 yuan/mtu, down 5.85% WoW; Australian seed ore was priced at 38.5-39 yuan/mtu, down 3.73% WoW; South African semi-carbonate ore was priced at 34.5-35 yuan/mtu, unchanged WoW; Gabon ore was priced at 40-41 yuan/mtu, down 2.41% WoW; South African high-iron ore was priced at 29-29.5 yuan/mtu, down 1.68% WoW.

Currently, there has been a slight inventory buildup of manganese ore at ports. Most downstream alloy plants are maintaining low-inventory production, resulting in weak demand for manganese ore from alloy plants. Trading of manganese ore at both northern and southern ports has been sluggish, with strong market pessimism prevailing in the manganese ore market. There are currently no positive factors in the market, and the spot price of manganese ore is in the doldrums.