[SMM Manganese Ore Weekly Review] Overseas Market Manganese Ore Offers Remain Stable, Manganese Ore Market Consolidates

August 29 (SMM) - Northern ports: Australian lump ore was quoted at 40.3-40.8 yuan/mtu, flat WoW; South African semi-carbonate ore at 34.2-35.7 yuan/mtu, down 1.15% WoW; Gabon ore at 39.1-39.9 yuan/mtu, flat WoW; South African high-iron ore at 29.4-29.9 yuan/mtu, flat WoW; South African medium-iron ore at 35.1-35.6 yuan/mtu, flat WoW.

Southern ports: Australian lump ore was quoted at 39.8-40.5 yuan/mtu, flat WoW; South African semi-carbonate ore at 36.3-36.8 yuan/mtu, down 0.54% WoW; Gabon ore at 39.6-40.1 yuan/mtu, flat WoW; South African high-iron ore at 30.5-31 yuan/mtu, flat WoW; South African medium-iron ore at 36.5-37.2 yuan/mtu, flat WoW.

Manganese ore market activity slowed, with sluggish inquiries. The manganese ore market consolidated.

Supply side, Consolidated Minerals Ltd (CML) offered Australian lump ore to China at $4.57/mtu for October 2025, while Comilog quoted Gabon lump ore at $4.27/mtu for the same period, both flat MoM. The stabilized overseas offers provided strong cost support for both spot and forward manganese ore, leaving miners reluctant to sell at low prices. Currently, the manganese ore market consolidated. Future attention should be paid to manganese ore shipment arrivals.

Demand side, the SiMn market was in the doldrums this week. Most plants operated under production schedules, fulfilling hedging orders from early August and steel mill contracts, maintaining purchasing as needed while still attempting to drive down prices.

Overall, with miners reluctant to sell at low prices and downstream SiMn plants still trying to drive down prices, the manganese ore market consolidated. Future price trends will depend on manganese ore shipment arrivals and downstream demand.