Multiple favorable factors drive up manganese ore prices [SMM Manganese Ore Daily Review]

Published: Jul 29, 2025 17:41

Save

Northern ports: Australian lump ore at 40.2-40.7 yuan/mtu, up 1.25% WoW from last Tuesday; South African semi-carbonate ore at 33.9-34.4 yuan/mtu, unchanged WoW from last Tuesday; Gabonese ore at 39-39.8 yuan/mtu, up 2.60% WoW from last Tuesday; South African high-iron ore at 29.4-29.7 yuan/mtu, up 0.34% WoW from last Tuesday; South African medium-iron ore at 34.2-34.7 yuan/mtu, up 1.47% WoW from last Tuesday. Southern ports: Australian lump ore at 39.9-40.4 yuan/mtu, up 0.50% WoW from last Tuesday; South African semi-carbonate ore at 34-34.5 yuan/mtu, unchanged WoW from last Tuesday; Gabonese ore at 39.3-39.8 yuan/mtu, up 1.28% WoW from last Tuesday; South African high-iron ore at 29.9-30.4 yuan/mtu, up 2.38% WoW from last Tuesday; South African medium-iron ore at 34.6-35.1 yuan/mtu, up 1.75% WoW from last Tuesday. In terms of supply, after South32 raised its offers for South African semi-carbonate and Australian lump ore to China last week, miners were reluctant to sell at low prices, and offers remained firm, with low-priced goods hard to find. Demand side...

On July 29th: Northern ports: Australian lump ore at 40.2-40.7 yuan/mtu, up 1.25% WoW from last Tuesday; South African semi-carbonate ore at 33.9-34.4 yuan/mtu, unchanged from last Tuesday; Gabonese ore at 39-39.8 yuan/mtu, up 2.60% WoW from last Tuesday; South African high-iron ore at 29.4-29.7 yuan/mtu, up 0.34% WoW from last Tuesday; South African medium-iron ore at 34.2-34.7 yuan/mtu, up 1.47% WoW from last Tuesday.

Southern ports: Australian lump ore at 39.9-40.4 yuan/mtu, up 0.50% WoW from last Tuesday; South African semi-carbonate ore at 34-34.5 yuan/mtu, unchanged from last Tuesday; Gabonese ore at 39.3-39.8 yuan/mtu, up 1.28% WoW from last Tuesday; South African high-iron ore at 29.9-30.4 yuan/mtu, up 2.38% WoW from last Tuesday; South African medium-iron ore at 34.6-35.1 yuan/mtu, up 1.75% WoW from last Tuesday.

In terms of supply, after South32 raised its offers for South African semi-carbonate and Australian lump ore to China last week, miners were reluctant to sell at lower prices, and offers remained firm, with low-priced cargoes hard to find.

Demand side, at the seminar of top-tier enterprises in the northern manganese industry held last Friday, participating enterprises initially reached a consensus on energy conservation and emission reduction of 40%, directly leading to a limit-up in SiMn futures. The market sentiment for refusing to budge on manganese ore prices strengthened further. Coupled with the volatile rise in SiMn futures market at the beginning of the week, market tension eased somewhat. Spot prices of SiMn in both northern and southern markets rose slightly, and the acceptance of manganese ore increased slightly. Among them, the transaction price of Gabonese lump ore at Tianjin Port rose the most, up 1 yuan/mtu from last Tuesday; South African high-iron ore at Qinzhou Port rose the most, up 0.7 yuan/mtu from last Tuesday.

In terms of inventory, Qinzhou Port experienced a slight destocking. The supply of South African ore was tight, and traders' reluctance to sell was evident, further supporting price increases.

Overall, there are many favorable factors in the manganese ore market. It is expected that manganese ore prices will remain firm in the short term. In the future, it is necessary to continuously monitor the actual enforcement of emission reduction policies in the north, port inventory levels, and the futures market situation of SiMn.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

17 hours ago

18 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

18 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

18 hours ago