Latest Update in the SMM Manganese Market

December 15 news: The SM2603 contract opened at 5,770 yuan/mt and closed at 5,758 yuan/mt, up 0.81%, with the highest price at 5,806 yuan/mt and the lowest at 5,748 yuan/mt. Trading volume was 225,200 lots, and open interest stood at 273,655 lots. Today, futures held up well, showing a rebound compared to previous sessions. Cost side, core manganese ore prices remained high; although some individual manganese ores saw price declines, overall cost support remained firm. Supply side, alloy plants in both the north and south maintained stable operations. Spot silicon manganese prices in production areas were below the cost prices of most enterprises, putting significant pressure on manufacturers' losses. Demand side, HBIS Group set its December silicon manganese price at 5,770 yuan/mt, up 70 yuan from the first round inquiry price of 5,700 yuan/mt, but down significantly from the November price of 5,820 yuan/mt. This price is below the cost prices of most enterprises, and market sentiment for silicon manganese remains negative.

December 12 news: Northern ports: South African high-iron ore at 30-30.5 yuan/mtu, up 1.34% WoW; South African semi-carbonate ore at 34-34.5 yuan/mtu, down 0.58% WoW; Gabon ore at 41.9-43.5 yuan/mtu, up 2.61% WoW; Australian lumps at 41-41.7 yuan/mtu, up 5.56% WoW; South African medium-iron ore at 36.4-37.4 yuan/mtu, up 0.81% WoW. Southern ports: South African high-iron ore at 30.3-30.8 yuan/mtu, down 1.61% WoW; South African semi-carbonate ore at 36.4-37.3 yuan/mtu, down 1.34% WoW; Gabon ore at 41.1-42 yuan/mtu, up 1.22% WoW; Australian lumps at 41.5-42.2 yuan/mtu, up 2.45% WoW; South African medium-iron ore at 37.1-37.6 yuan/mtu, down 1.32% WoW. The manganese ore market continued its previous firm trend, with differentiated performance among varieties, among which the transaction price of high-grade manganese ore rose particularly prominently.

SM2603 contract opened at 5,712 yuan/mt and finally closed at 5,730 yuan/mt, up 0.0%. The highest price was 5,738 yuan/mt and the lowest was 5,678 yuan/mt during the daytime session. Trading volume was 160,600 lots and open interest was 281,084 lots. The futures fluctuated upward today, but upside room for price increases was limited. Cost side, the manganese ore market remained firm, providing strong cost support for SiMn. Supply side, alloy plants in both northern and southern regions maintained stable operations. Spot SiMn prices in production areas were below most enterprises' cost levels, putting significant pressure on producers' profitability. Demand side, HBIS Group set its December SiMn price at 5,770 yuan/mt, up 70 yuan from the initial inquiry of 5,700 yuan/mt, but down significantly from November's price of 5,820 yuan/mt, indicating weak market sentiment for SiMn. The SiMn market is expected to remain weak in the short term.

Recently, the EMM market has shown a sharp upward trend, with spot prices rising rapidly and trading activity continuously heating up. Favorable factors on both the supply-demand sides are being released collectively, coupled with support from the peak stockpiling season, leading to increasingly high industry sentiment. The upward momentum for EMM prices is expected to continue clearly...

December 11 news: The SM2603 contract opened at 5,724 yuan/mt and closed at 5,712 yuan/mt, down 0.49%. The highest price was 5,756 yuan/mt and the lowest was 5,702 yuan/mt. Trading volume was 183,800 lots, and open interest was 290,271 lots. During the daytime session, futures edged higher initially then pulled back, lacking upward momentum. Cost side, the manganese ore market remained firm, with high-grade oxide ore showing notable gains, providing strong cost support for SiMn. Supply side, alloy plants in both northern and southern regions maintained stable operations. Spot SiMn prices in production areas were below most enterprises' cost levels, putting producers under heavy loss pressure. Demand side, a new round of steel mill tenders was gradually unfolding. HBIS Group set its December SiMn price at 5,770 yuan/mt, up 70 yuan from the first inquiry of 5,700 yuan/mt, but down significantly from November's price of 5,820 yuan/mt, leading to negative market sentiment for SiMn. In the short term, spot SiMn prices are expected to remain in the doldrums.

As of Wednesday, SiMn 6517 (cash) in north China was at 5,550-5,650 yuan/mt, flat WoW; in south China, SiMn 6517 (cash) was at 5,600-5,650 yuan/mt, flat WoW. The SiMn market remained in the doldrums recently.

December 10 news: The SM2603 contract opened at 5,738 yuan/mt and finally closed at 5,724 yuan/mt, up 0.28%. The highest price was 5,766 yuan/mt and the lowest price was 5,714 yuan/mt during the daytime session. Trading volume was 183,800 lots, and open interest was 280,089 lots. Today, futures surged initially then pulled back. Cost side, the manganese ore market remained firm, with high-grade oxide ore showing notable gains, providing strong cost support for SiMn. Supply side, alloy plants in both the north and south maintained stable operations. Spot SiMn prices in production areas were below the cost price of most enterprises, putting significant pressure on manufacturers' losses. Demand side, a new round of steel mill tenders was gradually unfolding. HBIS Group's first round of SiMn inquiry for December was 5,700 yuan/mt, compared with November's SiMn settlement price of 5,820 yuan/mt, a significant decline. The market awaited the final tender pricing. Overall, the market watched for the new round of steel tender prices, and spot SiMn prices remained in the doldrums in the short term.

December 9 news: The SM2603 contract opened at 5,722 yuan/mt and closed at 5,732 yuan/mt, up 0.03%, with the highest price at 5,748 yuan/mt and the lowest at 5,678 yuan/mt. Trading volume was 259,100 lots, and open interest stood at 282,351 lots. Futures fluctuated upward today. Cost side, the manganese ore market remained firm, with traders confident in holding prices firm, providing strong cost support for SiMn. Supply side, alloy plants in the north and south maintained stable operations. Spot SiMn prices in production areas were below the cost prices of most enterprises, putting significant pressure on manufacturers' losses. Demand side, a new round of steel mill tenders was gradually unfolding, with HBIS Group's first December SiMn inquiry at 5,700 yuan/mt, compared with the November SiMn price of 5,820 yuan/mt, a significant decline. The market is watching for the final tender pricing. Overall, as the market awaits the new round of steel tender prices, spot SiMn prices are expected to remain in the doldrums in the short term.

December 8: The SM2603 contract opened at 5,750 yuan/mt and closed at 5,736 yuan/mt, down 0.42%. The highest price during the daytime session was 5,766 yuan/mt, and the lowest price was 5,696 yuan/mt. Trading volume was 265,100 lots, and open interest stood at 271,282 lots. Today, futures were under pressure. Cost side, the manganese ore market remained firm, with traders showing strong confidence in holding prices firm, providing solid cost support for SiMn. Supply side, alloy plants in both the north and south maintained stable operations. Spot SiMn prices in production areas were below the cost levels of most enterprises, putting significant pressure on producers with losses. Demand side, a new round of steel mill tenders was gradually unfolding. HBIS Group's December SiMn procurement volume was 14,700 mt, down from the November tender volume of 16,000 mt. Overall, the market is watching for the new round of steel tender prices, and spot SiMn prices are expected to remain in the doldrums in the short term.

December 5 news: Northern ports: South African high-iron ore at 29.6-30.1 yuan/mtu, flat WoW; South African semi-carbonate ore at 34.1-34.8 yuan/mtu, flat WoW; Gabon ore at 41.7-42.5 yuan/mtu, up 2.43% WoW; Australian lumps at 41-41.7 yuan/mtu, up 2.48% WoW; South African medium-iron ore at 36.6-37.1 yuan/mtu, up 3.37% WoW. Southern ports: South African high-iron ore at 30.8-31.3 yuan/mtu, flat WoW; South African semi-carbonate ore at 36.9-37.8 yuan/mtu, flat WoW; Gabon ore at 40.6-41.5 yuan/mtu, flat WoW; Australian lumps at 40.5-41.2 yuan/mtu, up 0.49% WoW; South African medium-iron ore at 37.6-38.1 yuan/mtu, flat WoW. Overall, port inventories of high-grade lump ore are tightening, bargaining power is tilting toward sellers, and purchasing negotiations are becoming increasingly difficult. The manganese ore market is expected to hold up well in the short term, with high-grade ore likely to continue leading the gains.