Destocking of manganese ore at ports is slow. Miners held a stance of refusing to budge on prices at the beginning of the week [SMM Manganese Ore Daily Review]

July 1 news: Northern ports: Australian lump ore is priced at 39-40 yuan/mtu, unchanged from last Tuesday on a WoW basis; Australian pellet ore is priced at 35.8-36.8 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African semi-carbonate ore is priced at 33.6-34.1 yuan/mtu, up 2% from last Tuesday on a WoW basis; Gabonese ore is priced at 36.6-37.6 yuan/mtu, up 2% from last Tuesday on a WoW basis; South African high-iron ore is priced at 29.1-29.6 yuan/mtu, unchanged from last Tuesday on a WoW basis.

Southern ports: Australian lump ore is priced at 39-40 yuan/mtu, unchanged from last Tuesday on a WoW basis; Australian pellet ore is priced at 35.3-35.8 yuan/mtu, down 0.56% from last Tuesday on a WoW basis; South African semi-carbonate ore is priced at 33.9-34.4 yuan/mtu, up 3% from last Tuesday on a WoW basis; Gabonese ore is priced at 38.5-39 yuan/mtu, up 1% from last Tuesday on a WoW basis; South African high-iron ore is priced at 28.5-29 yuan/mtu, up 1% from last Tuesday on a WoW basis.

Demand side, most downstream SiMn alloy plants are in an active inquiry period. Manganese ore inventory at Tianjin Port and Qinzhou Port is destocking slowly compared to last week, so miners' offers remain firm. Additionally, due to the recent reduction in the circulation of some high-grade manganese ore in the market, there is limited room for downstream alloy plants to drive down prices. Overall, miners have low willingness to sell at low prices at the beginning of the week. Future manganese ore prices should also be monitored based on port inventory and market circulation of manganese ore.