Latest Update in the SMM Manganese Market

Last week, domestic molybdenum prices first rose rapidly driven by shipments from molybdenum mines; then, because downstream companies and steel mills were unable to transfer the pressure of sharply rising costs to downstream buyers in a timely manner, they were unwilling to accept this price level.

The market price of titanium dioxide remained basically stable last week. The mainstream transaction price of rutile titanium dioxide was 16,200-17,500 yuan/ton, and the mainstream quotation of anatase titanium dioxide was 15,000-15,500 yuan/ton.

China’s magnesium ingot exports rose by 38.4% YoY to 74,387 mt in Q1 of 2024.

The price of DMC in the online mall of DMC enterprises in Shandong decreased this week. The opening price this week was 13200 yuan/ton, down 300 yuan/ton. This week, the leading enterprises’ DMC quotations remained stable at 14,000 yuan/ton.

Customs data shows that China’s import volume of other antimony ores and concentrates in March 2024 was 4,101.79 tons. The import volume was slightly lower than the 4,516.44 tons imported in February and 4,385.04 tons imported in January.

In March 2024, China imported 3,799.48 tons of molybdenum concentrate, a month-on-month increase of 2.47%; exports were 600.44 tons, a month-on-month decrease of 5.69%.

In March 2024, China's ferromolybdenum exports were 355.16 tons, a month-on-month decrease of 45.06%, and imports were 962 tons, a month-on-month increase of 220.67%.

China exported 30,318 tons of magnesium ingots in March 2024, a month-on-month increase of 71.11%, a year-on-year increase of 50.57%, and the cumulative exports increased by 38.42% year-on-year.