Latest Update in the SMM Manganese Market

July 15 News: Northern Ports: Australian lump ore is priced at 39.5-40 yuan/mtu, unchanged from last Tuesday on a WoW basis; Australian pellet ore is priced at 36-37 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African semi-carbonate ore is priced at 33.8-34.3 yuan/mtu, up 0.59% from last Tuesday on a WoW basis; Gabonese ore is priced at 38-38.8 yuan/mtu, up 0.26% from last Tuesday on a WoW basis; South African high-iron ore is priced at 29.3-29.6 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African medium-iron ore is priced at 33.7-34.2 yuan/mtu, up 0.59% from last Tuesday on a WoW basis. Southern Ports: Australian lump ore is priced at 39.5-40 yuan/mtu, unchanged from last Tuesday on a WoW basis; Australian pellet ore is priced at 35.5-36 yuan/mtu, unchanged from last Tuesday on a WoW basis; South African semi-carbonate ore is priced at 33.9-34.4 yuan/mtu, unchanged from last Tuesday on a WoW basis; Gabonese ore is priced at 38.8-39.3 yuan/mtu, up 0.77% from last Tuesday on a WoW basis; South African high-iron ore is priced at 28.5-29 yuan/mtu, unchanged from last Tuesday on a WoW basis. South African medium-iron ore is priced at 34-34.5 yuan/mtu, up 0.59% from last Tuesday on a WoW basis. The manganese ore market fluctuated at highs at the beginning of the week, with low arrivals of oxidized ore and slightly tight supply...

[SMM EMM Daily Review: EMM Plant Quotations Remain Firm, Spot Prices Stabilize] The average spot price of EMM in major producing areas ranges from 13,500 to 13,600 yuan/mt, unchanged MoM; the average FOB price ranges from $1,880 to $1,920/mt, unchanged MoM. Supply side, most EMM plants maintain firm quotations, with some holding back from selling temporarily. Traders generally follow the firm quotations of EMM plants, making it difficult to find low-priced goods in the market. Demand side, downstream steel mills are cautious and adopting a wait-and-see sentiment. Steel tenders are entering the market one after another, and market participants are paying close attention to the progress of these tenders.

The SM2509 contract opened at 5,748 yuan/mt and closed at 5,782 yuan/mt, up 0.14%. The daily high was 5,800 yuan/mt and the low was 5,720 yuan/mt. Trading volume was 211,846 lots, and open interest was 358,988 lots. On the raw material side, the market offers for manganese ore remained at a high level, showing no signs of easing...

As of this Friday, in northern ports: Australian lump ore was priced at 39.5-40 yuan/mtu, unchanged from last Friday; Australian seed ore was priced at 36-37 yuan/mtu, unchanged from last Friday; South African semi-carbonate ore was priced at 33.8-34.3 yuan/mtu, up 0.59% WoW from last Friday; Gabonese ore was priced at 37.8-38.8 yuan/mtu, unchanged from last Friday; South African high-iron ore was priced at 29.3-29.6 yuan/mtu, unchanged from last Friday. In southern ports: Australian lump ore was priced at 39.5-40 yuan/mtu, unchanged from last Friday; Australian seed ore was priced at 35.5-36 yuan/mtu, unchanged from last Friday; South African semi-carbonate ore was priced at 33.9-34.4 yuan/mtu, unchanged from last Friday; Gabonese ore was priced at 38.8-39.3 yuan/mtu, up 0.77% WoW from last Friday; South African high-iron ore was priced at 28.5-29 yuan/mtu, unchanged from last Friday. The futures market for SiMn was bullish this week...

As of Friday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,500-5,600 yuan/mt, up 50 yuan/mt WoW from last Friday; in the southern market, the price of SiMn alloy 65/17 (cash) was 5,575-5,675 yuan/mt, up 75 yuan/mt WoW from last Friday. On the spot cargo side, due to the firm support from manganese ore prices on the cost side, miners were more reluctant to sell at low prices...

[SMM Weekly Review: Strong Reluctance to Budge on Prices at Manganese Mills, Spot Prices Rise Slightly] As of Friday this week, the average domestic spot price of EMM was 13,400-13,600 yuan/mt, up 100 yuan/mt WoW from last Friday; the FOB price was $1,880-$1,920/mt, up $10/mt WoW from last Friday. According to SMM, on the supply side, manganese mills showed strong reluctance to budge on prices during the week, with firm offers, and traders mostly followed the mills' offers with slight increases, making it difficult to find low-priced goods in the market. On the demand side, downstream steel mills were cautious in purchasing high-priced EMM, adopting a wait-and-see attitude.

[SMM EMM Daily Review: Tug-of-war Between Sellers and Buyers in the Market, Spot Price Remains Stable] The average spot price of EMM in major production areas ranges from 13,400 to 13,600 yuan/mt, unchanged MoM; the average FOB price ranges from $1,880 to $1,920/mt, unchanged MoM. Supply side, EMM plants still exhibit reluctance to budge on prices, with weak willingness to sell at discounted prices, and some EMM plants continue to hold back from selling. Demand side, downstream steel mills are cautious in purchasing EMM, with sluggish market transactions. Currently, the tug-of-war between supply and demand in the market persists, and the spot price remains stable.

In the northern market, the price of SiMn alloy 65/17 (cash) ranges from 5,450 to 5,550 yuan/mt, up 50 yuan/mt WoW from last Wednesday; in the southern market, the price of SiMn alloy 65/17 (cash) ranges from 5,550 to 5,650 yuan/mt, up 100 yuan/mt WoW from last Wednesday. Recently, from the raw material market perspective, manganese ore prices have remained stable overall, with downstream...

[SMM Daily Review of EMM: Tug-of-war between sellers and buyers in the market, spot price remains stable] The average spot price of EMM in the main producing areas is 13,400-13,600 yuan/mt, unchanged MoM; the average FOB price is $1,880-$1,920/mt, unchanged MoM. On the supply side, EMM plants maintain a firm stance, with some holding back from selling, making it difficult to find spot cargo at low prices in the market. On the demand side, downstream steel mills have weak acceptance of high-priced EMM, and most hold a cautious wait-and-see sentiment. Currently, there is a stalemate in the tug-of-war between supply and demand in the market, and the spot price of EMM remains stable.

Recently, SiMn futures prices have remained at a relatively high level, driving a positive market sentiment in the manganese ore market. Miners are generally reluctant to sell at low prices. The concentration of cargo ownership at ports...