Downstream SiMn futures fluctuate downward, manganese ore spot price sees slight correction [SMM Manganese Ore Daily Review]

Published: Aug 19, 2025 18:58

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On August 19, at the northern ports: Australian lumps were at 40.5-41 yuan/mtu, down 0.49% WoW from last Tuesday; South African semi-carbonate was at 34.9-35.4 yuan/mtu, flat WoW from last Tuesday; Gabonese ore was at 39.6-40.4 yuan/mtu, down 0.50% WoW from last Tuesday; high-grade South African ore was at 29.5-30 yuan/mtu, flat WoW from last Tuesday; medium-grade South African ore was at 35.2-35.7 yuan/mtu, flat WoW from last Tuesday. At the southern ports: Australian lumps were at 40-40.7 yuan/mtu, down 0.49% WoW from last Tuesday; South African semi-carbonate was at 36.5-37 yuan/mtu, flat WoW from last Tuesday; Gabonese ore was at 40.1-40.6 yuan/mtu, down 0.49% WoW from last Tuesday; high-grade South African ore was at 30.6-31.1 yuan/mtu, flat WoW from last Tuesday; medium-grade South African ore was at 36.6-37.3 yuan/mtu, flat WoW from last Tuesday. Recently, the manganese ore market has been in the doldrums, significantly influenced by demand.

August 19: Northern Ports: Australian lump 40.5-41 yuan/mtu, down 0.49% WoW; South African semi-carbonate 34.9-35.4 yuan/mtu, flat WoW; Gabon 39.6-40.4 yuan/mtu, down 0.50% WoW; South African high-grade 29.5-30 yuan/mtu, flat WoW; South African medium-grade 35.2-35.7 yuan/mtu, flat WoW.

Southern Ports: Australian lump 40-40.7 yuan/mtu, down 0.49% WoW; South African semi-carbonate 36.5-37 yuan/mtu, flat WoW; Gabon 40.1-40.6 yuan/mtu, down 0.49% WoW; South African high-grade 30.6-31.1 yuan/mtu, flat WoW; South African medium-grade 36.6-37.3 yuan/mtu, flat WoW.

Demand side, most downstream buyers have completed a round of stockpiling last week, and the port inquiry activity is gradually decreasing. In the past two days, influenced by the fluctuations in the SiMn futures, coupled with the decline in SiMn today, the acceptance of manganese ore prices by downstream alloy plants has slightly decreased, with some manganese ores dropping slightly.

Inventory, on Friday, Tianjin Port saw an increase in arrivals, with port arrivals exceeding port pick-up volume, leading to inventory buildup; Qinzhou Port maintained a normal cargo pick-up pace, with port arrivals less than port pick-up volume, resulting in a slight destocking at Qinzhou Port.

Overall, the recent manganese ore market is in the doldrums, significantly affected by the demand side. Future manganese ore prices will need to continuously monitor the impact of changes in the SiMn market on the price acceptance of manganese ore.

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.

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