Overseas Manganese Mine Offers Remain Unchanged for Forward Delivery, Manganese Ore Market Shows Temporary Stability [SMM Manganese Ore Daily Review]

Nov. 04 (SMM) -

Northern ports: South African high-iron ore at 29.4-30.1 yuan/mtu, flat WoW; South African semi-carbonate ore at 34.1-34.6 yuan/mtu, up 0.29% WoW; Gabon ore at 39.6-40.4 yuan/mtu, flat WoW; Australian lumps at 39.9-40.4 yuan/mtu, flat WoW; South African medium-iron ore at 35.2-35.9 yuan/mtu, up 0.28% WoW.

Southern ports: South African high-iron ore at 30.7-31.2 yuan/mtu, flat WoW; South African semi-carbonate ore at 36.9-37.6 yuan/mtu, up 0.27% WoW; Gabon ore at 40.5-40.1 yuan/mtu, flat WoW; Australian lumps at 40.1-40.8 yuan/mtu, flat WoW; South African medium-iron ore at 36.7-37.4 yuan/mtu, up 0.54% WoW.

Supply side, South32 announced its manganese ore offers to China for December 2025, with Mn42% Australian manganese ore (lump) at $4.55/mtu (CIF China main ports) and Mn37% South African semi-carbonate manganese ore (lump) at $4.15/mtu (CIF China main ports), both flat MoM from November.

Demand side, entering the traditional off-season, the downstream SiMn market was in the doldrums. Plants operated on production schedules with low enthusiasm. Additionally, as the rainy season ended in south China regions like Yunnan, electricity costs rose significantly, leading to an overall decline in operating rates in the south. Alloy plants avoided excessive manganese ore stockpiling, maintaining just-in-time procurement only. The current pace of manganese ore shipments was relatively moderate.

Inventory side, Tianjin Port and Qinzhou Port saw slight destocking last Friday. Current port inventory levels are at a medium level, with miners holding strong reluctance to sell, resulting in few low-priced spot manganese ore transactions.

Overall, the manganese ore market's supply and demand showed no significant changes, and the market operated steadily for the time being.