[SMM Manganese Ore Weekly Review] Manganese Ore Market Sluggish, Focus on Supply and Demand Fundamentals Changes

August 22 News: North China ports: Australian lumps 40.3-40.8 yuan/mtu, down 0.98% WoW; South African semi-carbonate 34.6-35.1 yuan/mtu, down 0.85% WoW; Gabon 39.1-39.9 yuan/mtu, down 1.74% WoW; South African high iron 29.4-29.9 yuan/mtu, down 0.34% WoW; South African medium iron 35.1-35.6 yuan/mtu, down 0.28% WoW.

South China ports: Australian lumps 39.8-40.5 yuan/mtu, down 0.99% WoW; South African semi-carbonate 36.5-37 yuan/mtu, flat WoW; Gabon 39.6-40.1 yuan/mtu, down 1.73% WoW; South African high iron 30.5-31 yuan/mtu, down 0.32% WoW; South African medium iron 36.5-37.2 yuan/mtu, down 0.27% WoW.

Since the beginning of the week, manganese ore prices have declined to varying degrees, with the largest decline in Gabon blocks at Tianjin and Qinzhou ports, accumulating a 0.7 yuan/mtu drop this week, and the manganese ore market is in the doldrums.

Demand side, overall operations in both southern and northern markets have not fluctuated much, and purchasing as needed for manganese ore continues. After a week, the north China region has basically completed a round of stockpiling, reducing the activity of port inquiries. This week, the SiMn futures were in the doldrums, and market sentiment weakened, with SiMn alloy plants showing a stronger desire to drive down manganese ore prices, leading to a slight decrease in transaction prices.

In terms of supply, there may be a significant increase in manganese ore arrivals at the end of the month, and whether the loosening supply will affect spot manganese ore prices remains to be seen.

Overall, this week, the downstream SiMn market sentiment was more negative compared to last week, with reduced activity in manganese ore inquiries and a growing trend towards bargain down purchasing prices, resulting in a decline in manganese ore prices. The future trend of manganese ore prices will depend on the arrival volume of manganese ore and the demand situation in the SiMn alloy market.