[SMM Announcement] New Price Announcement for‘Mn Ore Australia(Mn42%) -North(Yuan/ton-degree)’、‘Mn Ore Australia(Mn42%) -South(Yuan/ton-degree)’

Dear Industry Peers,

Hello!

Imported manganese ore is a key raw material for manufacturing products such as silicomanganese alloy and ferromanganese alloy, with high-quality manganese ore being particularly favored by the market. Australian manganese ore is a mainstream and high-frequency oxide ore globally, serving as an important reference standard for global manganese ore pricing, and its price fluctuations directly impact the cost chain of global manganese-based alloys.

Tianjin Port and Qinzhou Port are the main unloading ports for imported manganese ore in China. Equipped with complete storage facilities, these two ports feature high single-vessel unloading efficiency and large manganese ore reserve capacity. The formed complementary pattern of "Tianjin in the north and Qinzhou in the south" has enhanced China's bargaining power in global manganese ore trade. Prices at Tianjin Port (north) and Qinzhou Port (south) serve as benchmarks for global manganese ore pricing, which are referenced by both domestic and foreign ore merchants.

To actively respond to market changes, meet the urgent demand of users for understanding the prices of Australian Mn42% manganese ore at Tianjin Port and Qinzhou Port, and improve the transparency of market information, SMM has decided:

Commencing December 31, 2025, SMM will officially launch a new price:

‘Mn Ore Australia(Mn42%) -North(Yuan/ton-degree)’、‘Mn Ore Australia(Mn42%) -South(Yuan/ton-degree)’

Details of this price point are as follows:

• Description:‘SMM Mn Ore, Australia Block 42%, in-whs-Tianjin Port, yuan/ton-degree’、‘SMM Mn Ore, Australia Block 42%, in-whs-Qinzhou Port, yuan/ton-degree’
• Quality:Mn42%
• Definition: EX-warehouse-Tianjin Port
• Unit: Yuan/ton-degree
• Brand Listing:South 32,etc
• Quantity:Minimum 100 tonnes
• Timing: Prompt
• Pulication:Daily, by 11am Beijing Time (i.e., before 4:00 AM London Summer Time; before 3:00 AM London Winter Time)
• Payment Terms: Cash on same day, other payment terms normalized

SMM Nickel Industry Research Department

December 26, 2025