Latest Update in the SMM Manganese Market

[SMM Report: Shandong Humon Smelting Co., Ltd. Openly Tenders Approximately 65 mt of Antimony Trioxide (Oxide Powder) Today] SMM, February 10: According to SMM, Shandong Humon Smelting Co., Ltd. has started open tender sales of approximately 65 mt of antimony trioxide (oxide powder) today.

SMM, February 6 - On February 4, 2025, the Ministry of Commerce and the General Administration of Customs issued Announcement No. 10 of 2025, announcing the decision to impose export controls on items related to tungsten, tellurium, bismuth, molybdenum, and indium.

[Ministry of Commerce and General Administration of Customs: Export Control Imposed on Items Related to Tungsten, Tellurium, Bismuth, Molybdenum, and Indium] According to the website of the Ministry of Commerce, on February 4, the Ministry of Commerce and the General Administration of Customs issued an announcement deciding to impose export control on items related to tungsten, tellurium, bismuth, molybdenum, and indium. The announcement takes effect from the date of its release.

[Hunan Gold: YoY Increase in Selling Prices of Gold and Antimony, 2024 Net Profit Expected to Grow 60%-90% YoY] Hunan Gold previously disclosed its 2024 performance forecast, indicating that the company expects to achieve a net profit attributable to shareholders of the publicly listed firm of 782.5654 million yuan to 929.2964 million yuan, representing a YoY growth of 60%-90%. During the reporting period, the performance increase was mainly driven by the YoY rise in selling prices of the company's gold and antimony products.

[SMM National Sodium Antimonate January Production Assessment] According to SMM's assessment, the production of first-grade sodium antimonate in China is expected to decrease significantly by approximately 20% MoM from December 2024.

[SMM Data: December SMM China Refined Bismuth Production Assessment] According to SMM assessment, China's refined bismuth production in January 2025 is expected to increase significantly by approximately 25.08% MoM compared to the national refined bismuth production in December of the previous year.

[SMM National Antimony Ingot Production in January] According to SMM assessments, China's antimony ingot production (including antimony ingots, crude antimony converted, antimony cathode, etc.) in January 2025 decreased by 17.06% MoM compared to the statistics of December 2024.

[Gold and Antimony Price Increases Combined with Overseas Project Reaching Full Production, Huayu Mining Expects 2024 Net Profit to Grow Over Threefold YoY] ① Huayu Mining expects its 2024 net profit attributable to shareholders to range from 275 million yuan to 335 million yuan, an increase of 201 million yuan to 261 million yuan compared to the same period last year, up 272.19% to 353.39% YoY. ② The operational capacity of the gold and antimony project of the company's overseas subsidiary, Talco Gold Closed Joint-Stock Company, has improved. Benefiting from both volume and price increases, its profitability has strengthened.