Purchases by downstream alloy plants are sluggish, with spot prices in the doldrums [SMM Daily Review]

On May 27th: Northern ports: Australian lump ore was priced at 39.5-40.5 yuan/mtu, unchanged from last Tuesday on a WoW basis; Australian seed ore was priced at 36-37 yuan/mtu, down 2.67% WoW from last Tuesday; South African semi-carbonate ore was priced at 33.1-33.6 yuan/mtu, down 1.19% WoW from last Tuesday; Gabon ore was priced at 36.1-37.1 yuan/mtu, down 2.40% WoW from last Tuesday; South African high-iron ore was priced at 29.8-30.3 yuan/mtu, down 0.66% WoW from last Tuesday. Southern ports: Australian lump ore was priced at 39.5-40.5 yuan/mtu, unchanged from last Tuesday on a WoW basis; Australian seed ore was priced at 37-37.5 yuan/mtu, down 3.87% WoW from last Tuesday; South African semi-carbonate ore was priced at 34-34.5 yuan/mtu, unchanged from last Tuesday on a WoW basis; Gabon ore was priced at 38.8-39.3 yuan/mtu, down 0.51% WoW from last Tuesday; South African high-iron ore was priced at 28.5-29 yuan/mtu, unchanged from last Tuesday on a WoW basis.

Currently, inventory buildup of manganese ore at ports continues, exacerbating the surplus situation of manganese ore. Downstream alloy plants have shown weak enthusiasm for purchasing manganese ore, often driving down prices during purchases, putting pressure on miners' offers. In addition, the end-use demand for manganese alloys, a downstream product of manganese ore, is weak, with insufficient support from downstream demand for manganese ore. Currently, there are no positive factors in the manganese ore market, and the spot market continues to be in the doldrums.