In November, China's total manganese ore imports decreased by 13.09% MoM but increased by 22.38% YoY [SMM data].

According to the latest release from the General Administration of Customs, SMM statistics show that China's total manganese ore imports in November 2025 reached 2.6942 million mt, down 13.09% MoM but up 22.38% YoY. Cumulative imports from January to November amounted to 29.568 million mt, an increase of 10.39% compared to the same period last year. The main reasons for the MoM decline in manganese ore imports in November were: On one hand, the pace of shipments from overseas manganese mines slowed down, leading to reduced imports into China. Firstly, port logistics efficiency in Gabon remained constrained, with railway transport bottlenecks restricting overall shipment volumes. Shipments from the Moanda manganese mine in Gabon in Q3 2025 totaled 1.586 million mt, down 13% YoY, primarily due to railway transport bottlenecks, which forced adjustments in mine production: Comilog has reduced both Gabon manganese ore production and shipment volumes to match railway transport capacity. Secondly, after shipment reductions from Ghana, volumes have not returned to normal levels, and imports from non-mainstream source countries such as Brazil and Malaysia were limited, making it difficult to fill the supply gap left by mainstream sources like Gabon and Ghana. On the other hand, downstream traditional alloy industries remained sluggish, with weakened procurement demand. Operating rates at alloy plants in both northern and southern China were generally lower, and purchasing was cautious, mostly maintaining a just-in-time procurement model without stockpiling.