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

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.