Downstream demand has been released, and manganese ore prices have risen slightly [SMM Manganese Ore Daily Review]

Aug 12, 2025 15:16

Source:SMM

The gradual release of downstream demand for manganese ore is the main factor supporting the firmness of manganese ore prices in recent times. Northern ports: Australian lump ore at 40.7-41.2 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African semi-carbonate ore at 34.9-35.4 yuan/mtu, unchanged from last Tuesday on a WoW basis; Gabonese ore at 39.8-40.6 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African high-iron ore at 29.5-30 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African medium-iron ore at 35.2-35.7 yuan/mtu, unchanged from last Tuesday on a WoW basis. Southern ports: Australian lump ore at 40.2-40.9 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African semi-carbonate ore at 36.5-37 yuan/mtu, up 2.80% from last Tuesday on a WoW basis; Gabonese ore at 40.3-40.8 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African high-iron ore at 30.6-31.1 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African medium-iron ore at 36.6-37.3 yuan/mtu, up 0.82% from last Tuesday on a WoW basis. Demand side: The SiMn alloy market continued to fluctuate at highs during the week, with SiMn futures fluctuating around 6,000 yuan/mt. The market sentiment was positive, coupled with the moderate enthusiasm of SiMn manufacturers for production, which played a certain role in supporting the demand for manganese ore. Additionally, influenced by the expected procurement transportation restrictions at Tianjin Port in late August, many SiMn alloy manufacturers in the region chose to pick up goods in advance, driving up miners' offers. The spot price of manganese ore in the northern market showed a slight upward trend.

August 12 news: Northern ports: Australian lump ore 40.7-41.2 yuan/mtu, flat WoW; South African semi-carbonate 34.9-35.4 yuan/mtu, flat WoW; Gabon ore 39.8-40.6 yuan/mtu, flat WoW; South African high-iron 29.5-30 yuan/mtu, flat WoW; South African medium-iron 35.2-35.7 yuan/mtu, flat WoW.

Southern ports: Australian lump ore 40.2-40.9 yuan/mtu, flat WoW; South African semi-carbonate 36.5-37 yuan/mtu, up 2.80% WoW; Gabon ore 40.3-40.8 yuan/mtu, flat WoW; South African high-iron 30.6-31.1 yuan/mtu, flat WoW; South African medium-iron 36.6-37.3 yuan/mtu, up 0.82% WoW.

Demand side: The SiMn market continued to fluctuate at highs this week, with SiMn futures hovering around 6,000 yuan/mt amid warm market sentiment. Coupled with moderate production enthusiasm among SiMn plants, this provided some support for manganese ore demand. Additionally, due to anticipated cargo pickup restrictions at Tianjin Port in late August, most SiMn alloy plants in the region chose to advance procurement, driving up miners' offers and pushing spot ore prices slightly higher in northern markets.

Inventory side: Tianjin Port saw increased overseas manganese ore arrivals last Friday, with the increment exceeding recent pickup volumes by SiMn alloy plants, leading to inventory buildup. At Qinzhou Port, tight availability of certain ore varieties occurred as south China's SiMn plants maintained stable production schedules, sustaining steady ore demand and making low-priced ores scarce, which supported minor price increases. Under these conditions, SiMn plants maintained normal pickup frequency, resulting in slight destocking at Qinzhou Port.

Overall, the gradual release of downstream demand remains the key factor supporting manganese ore price resilience recently. However, market participants should monitor ore supply flows and potential impacts from macro perspective "rat race" competition sentiment on market psychology. Ore prices are expected to hold up well in the near term, with regional divergence likely to become more pronounced.

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

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Downstream demand has been released, and manganese ore prices have risen slightly [SMM Manganese Ore Daily Review]

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