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Southern ports: Australian lump ore was priced at 40.2-40.9 yuan/mtu, up 1.00% WoW from last Tuesday; South African semi-carbonate ore was priced at 35.5-36 yuan/mtu, up 4.38% WoW from last Tuesday; Gabonese ore was priced at 40.3-40.8 yuan/mtu, up 2.53% WoW from last Tuesday; South African high-iron ore was priced at 30.6-31.1 yuan/mtu, up 2.32% WoW from last Tuesday; South African medium-iron ore was priced at 36.4-36.9 yuan/mtu, up 5.16% WoW from last Tuesday.
In terms of supply, today, NMT announced its shipping offers for manganese ore to China for September 2025: 36% Min South African semi-carbonate lump ore was priced at $4.05/mtu (up $0.15), which may support the future rise in manganese ore prices, and traders still showed reluctance to budge on prices.
Demand side, the operating rates of alloy plants in the south and north remained stable, with most alloy plants maintaining just-in-time procurement and no significant stockpiling, keeping demand for manganese ore stable, while the sentiment to drive down prices persisted.
Inventory side, Tianjin Port's inventory remained high, while Qinzhou Port saw a slight destocking. The supply of South African ore was tight, with traders showing obvious reluctance to sell. Low-priced ore at ports was hard to find. Qinzhou's South African high-iron ore and medium-iron ore prices rose significantly, up 2.32% and 5.16% WoW from last Tuesday, respectively.
Overall, both the reluctance to budge on prices among manganese ore miners and the sentiment to drive down prices among SiMn alloy plants exist. Under market competition, manganese ore prices remain temporarily stable. Future prices will need to monitor the concentration of ore supply and changes in supply and demand.
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