As of Friday this week, at northern ports: Australian lump ore was priced at 39.5-40.5 yuan/mtu, unchanged WoW from last Friday; Australian seed ore was priced at 35.8-36.8 yuan/mtu, unchanged WoW from last Friday; South African semi-carbonate ore was priced at 32.6-33.1 yuan/mtu, unchanged WoW from last Friday; Gabon ore was priced at 35.6-36.6 yuan/mtu, unchanged WoW from last Friday; South African high-iron ore was priced at 29.1-29.6 yuan/mtu, down 0.68% WoW from last Friday. At southern ports: Australian lump ore was priced at 39.3-40.3 yuan/mtu, unchanged WoW from last Friday; Australian seed ore was priced at 35.5-36 yuan/mtu, unchanged WoW from last Friday; South African semi-carbonate ore was priced at 33-33.5 yuan/mtu, unchanged WoW from last Friday; Gabon ore was priced at 37.6-38.1 yuan/mtu, down 1.30% WoW from last Friday; South African high-iron ore was priced at 28.3-28.8 yuan/mtu, unchanged WoW from last Friday. During the week, the inventory of manganese ore at ports decreased slowly, and inventory buildup continued. Miners' offers fluctuated relatively small. Some miners, affected by the sluggish market, temporarily held back from selling. Inquiries from downstream alloy plants were active, but actual transactions were relatively sluggish. The spot market for manganese ore was in the doldrums.

Formation and Characteristics of Manganese Carbonate Ore: Manganese carbonate ore primarily forms in deep underground rocks, with its main component being manganese carbonate, also known as rhodochrosite. This type of ore belongs to the carbonate category and is easily distinguishable from other ores. It typically appears in bait-like, granular, massive, or nodular forms, with colors ranging from grayish-black to rose. After oxidation, it turns dark brown. Its hardness ranges from 3.5 to 4.5, and its density ranges from 3.6 to 3.7...

[SMM Weekly Review: Downstream Acceptance of High-Priced EMM Remains Low, Spot Prices Under Pressure] As of Friday this week, the domestic average spot price of EMM was 13,400-13,500 yuan/mt, down 25 yuan/mt WoW from last Friday; the FOB price was 1,880-1,910 US dollars/mt, down $10/mt WoW from last Friday. According to SMM, on the supply side, EMM plants were mostly fulfilling long-term contract orders, resulting in slightly tight spot supply and firm quotations. Traders generally followed the quotations of manganese plants, but there was still room for negotiation based on actual spot prices. On the demand side, downstream steel mills were cautious in purchasing EMM, with buyers showing low acceptance of high-priced EMM. They often drove down prices when purchasing EMM, causing spot prices to decline under pressure.

[SMM SiMn Weekly Review: Mainstream Steel Mills Enter the Market, with a Cautious Wait-and-See Sentiment] As of Friday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,450-5,550 yuan/mt, unchanged from last Friday on a WoW basis; in the southern market, it was 5,450-5,650 yuan/mt, also unchanged from last Friday on a WoW basis. According to SMM, on the raw material side, alloy plants' purchases of manganese ore were sluggish, miners lowered their offers, and the transaction prices of some manganese ores dropped slightly. On the supply side, most northern SiMn plants maintained stable production, while SiMn plants in the southern region showed increased willingness to resume production due to electricity tariff discounts during the rainy season. On the demand side, the first round of inquiries from mainstream steel mills fell short of expectations, and downstream steel mills of SiMn were mostly waiting for the pricing decisions of mainstream steel mills.

[SMM Ferrosilicon-Manganese Futures Review: Mainstream Steel Tenders Enter the Market, Wait-and-See Sentiment Prevails] The SM2509 contract opened at 5,474 yuan/mt, fluctuated downward after the morning session, and eventually closed at 5,426 yuan/mt, down 1.70%. The daily high was 5,492 yuan/mt, and the low was 5,418 yuan/mt. Trading volume was 203,695 lots, and open interest was 460,268. On the raw material side, miners' quotes fluctuated relatively small, and spot prices remained stable. On the spot side, SiMn plants continued to hold back from selling, with mainstream steel tenders entering the market. The market was dominated by wait-and-see sentiment, as participants awaited the inquiry situation of mainstream steel tenders.

[SMM Daily Review of SiMn: Steel Tenders Enter the Market One After Another, Spot Prices Mostly in a Wait-and-See Mood] In the northern market, the price of SiMn alloy 65/17 (cash) is 5,450-5,550 yuan/mt, unchanged WoW from last Wednesday; in the southern market, the price of SiMn alloy 65/17 (cash) is 5,450-5,650 yuan/mt, unchanged WoW from last Wednesday. According to SMM, on the raw material side, miners' offers have fluctuated relatively small, with individual manganese ore varieties traded based on actual orders, leading to a slight decrease in spot prices. On the supply side, SiMn producers in south China have shown increased willingness to resume production due to the electricity cost advantages during the rainy season. On the demand side, downstream steel mills are mostly cautious and adopting a wait-and-see attitude. Steel tenders are being launched one after another, with many waiting for mainstream steel tenders to enter the market.

[SMM Ferromanganese Futures Review: Futures Market in the Doldrums, Wait-and-See Sentiment Prevails in Spot Market] The SM2509 contract opened at 5,550 yuan/mt, fluctuated downward after the morning session, and eventually closed at 5,486 yuan/mt, down 1.22%. The daily high was 5,562 yuan/mt, and the low was 5,476 yuan/mt. Trading volume was 245,672 lots, and open interest was 448,864. On the raw material side, most miners maintained relatively stable quotes, with individual manganese ore varieties priced based on actual transactions, leading to a slight decline in spot prices. On the spot side, most SiMn producers held back from selling, with steel tenders being launched one after another, and many waiting for mainstream steel tenders to enter the market.

[SMM Daily Manganese Ore Review] Market inquiries show slight activity, spot prices remain stable for now June 10: Northern ports: Australian lump ore is priced at 39.5-40.5 yuan/mtu, unchanged WoW from last Tuesday; Australian seed ore is priced at 35.8-36.8 yuan/mtu, down 0.55% WoW from last Tuesday; South African semi-carbonate ore is priced at 32.6-33.1 yuan/mtu, down 1.50% WoW from last Tuesday; Gabon ore is priced at 35.6-36.6 yuan/mtu, down 1.37% WoW from last Tuesday; South African high-iron ore is priced at 29.3-29.8 yuan/mtu, down 0.67% WoW from last Tuesday. Southern ports: Australian lump ore is priced at 39.3-40.3 yuan/mtu, down 0.5% WoW from last Tuesday; Australian seed ore is priced at 35.5-36 yuan/mtu, down 1.38% WoW from last Tuesday; South African semi-carbonate ore is priced at 33-33.5 yuan/mtu, down 1.48% WoW from last Tuesday; Gabon ore is priced at 38.1-38.6 yuan/mtu, down 0.52% WoW from last Tuesday; South African high-iron ore is priced at 28.3-28.8 yuan/mtu, down 0.70% WoW from last Tuesday. Currently, there is an inventory buildup of manganese ore at ports, and miners' offers remain stable. In some southern regions, due to the advantages of the rainy season, electricity tariffs have been slightly reduced, enhancing the willingness of alloy plants to resume production, leading to active inquiries for manganese ore. Affected by the doldrums in the futures market for ferromanganese, there is still an expectation of a decline in spot prices for manganese ore in the future.

[SMM Ferromanganese-Silicon Futures Review: Ferromanganese-Silicon Futures Market in the Doldrums, Spot Prices Remain Stable] The SM2509 contract opened at 5,532 yuan/mt, experienced sideways movement after the morning session, and eventually closed at 5,542 yuan/mt, down 0.18%. The daily high was 5,590 yuan/mt, and the low was 5,506 yuan/mt. Trading volume was 184,780 lots, and open interest was 436,151. On the raw material side, the quotes from ore merchants fluctuated relatively small, and manganese ore prices remained stable. On the spot side, influenced by the doldrums in the futures market, SiMn holders maintained their quotes, and spot prices remained stable. Currently, there are no positive factors in the SiMn market, and it is expected that spot SiMn prices will remain weak in the future.

[SMM Ferromanganese-Silicon Futures Review: Market Adopts Cautious Wait-and-See Approach at Start of Week, Spot Prices Remain Stable] The SM2509 contract opened at 5,502 yuan/mt, fluctuated upward after the morning session, and eventually closed at 5,552 yuan/mt, up 0.04%. The daily high was 5,592 yuan/mt and the low was 5,482 yuan/mt. Trading volume was 200,978 lots, and open interest was 441,323. On the raw material side, ore merchants' quotations fluctuated relatively small, with active inquiries in the market, and the spot manganese ore market remained stable. On the spot side, most SiMn plants adopted a cautious wait-and-see sentiment at the start of the week, with both upstream and downstream sectors waiting for mainstream steel tenders to enter the market.