Downstream Demand Insufficient, Manganese Ore Prices Drop Slightly [SMM Manganese Ore Daily Report]

Published: Oct 14, 2025 18:46

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October 14: North ports: Australian lumps 40-40.5 yuan/mtu, down 0.74% MoM from September 30; South African semi-carbonate 34-34.5 yuan/mtu, down 0.58% MoM; Gabon 39.6-40.2 yuan/mtu, flat MoM; South African high-iron 29.3-30 yuan/mtu, down 0.67% MoM; South African medium-iron 35-35.7 yuan/mtu, down 0.56% MoM. South ports: Australian lumps 40.2-40.9 yuan/mtu, up 0.50% MoM; South African semi-carbonate 36.6-37.1 yuan/mtu, up 0.82% MoM; Gabon 40.4-40.9 yuan/mtu, up 0.49% MoM; South African high-iron 30.3-30.8 yuan/mtu, flat MoM; South African medium-iron 36.4-37.1 yuan/mtu, flat MoM. Overall, the manganese ore market has been in the doldrums recently, with a moderate procurement pace downstream, while spot prices are significantly influenced by downstream demand absorption and macro policies.

October 14 news: Northern ports: Australian lumps at 40-40.5 yuan/mtu, down 0.74% MoM from September 30; South African semi-carbonate at 34-34.5 yuan/mtu, down 0.58% MoM from September 30; Gabon at 39.6-40.2 yuan/mtu, flat MoM from September 30; South African high-iron at 29.3-30 yuan/mtu, down 0.67% MoM from September 30; South African medium-iron at 35-35.7 yuan/mtu, down 0.56% MoM from September 30.

Southern ports: Australian lumps at 40.2-40.9 yuan/mtu, up 0.50% MoM from September 30; South African semi-carbonate at 36.6-37.1 yuan/mtu, up 0.82% MoM from September 30; Gabon at 40.4-40.9 yuan/mtu, up 0.49% MoM from September 30; South African high-iron at 30.3-30.8 yuan/mtu, flat MoM from September 30; South African medium-iron at 36.4-37.1 yuan/mtu, flat MoM from September 30.

Demand side, as pre-holiday stockpiling was completed and there were no significant positive factors, downstream alloy plants held a price-driving-down mentality in procurement at the beginning of the week after the holiday. Purchase demand for manganese ore from plants in both north and south China was not very strong, and transaction prices edged down.

In addition, the special harbor fee imposed by China on U.S. vessels takes effect today. According to a survey, the proportion of imported manganese ore vessels subject to the special harbor fee is relatively small at present, and it has not yet had a significant impact on manganese ore costs.

Overall, the manganese ore market has been in the doldrums recently, with downstream procurement pace being moderate, and spot prices are significantly affected by downstream acceptance and macro policies.

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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