[SMM Daily Review] Manganese Ore Market Quotes Slightly Chaotic, Spot Prices Temporarily Stable
February 11:
Northern Ports: Australian lump ore at 52-52.5 yuan/mtu; Australian fines at 44.5-45 yuan/mtu; South African semi-carbonate at 41-41.5 yuan/mtu; Gabonese ore at 50-52 yuan/mtu; South African high-iron ore at 30-30.5 yuan/mtu.
Southern Ports: Australian lump ore at 47.5-48 yuan/mtu; Australian fines at 45.5-46 yuan/mtu; South African semi-carbonate at 38.5-39 yuan/mtu; Gabonese ore at 47-49 yuan/mtu; South African high-iron ore at 29.5-30 yuan/mtu.
The manganese ore market currently shows slightly chaotic quotes, with miners showing weak willingness to sell at low prices. Port manganese ore inventory increased MoM, but spot manganese ore supply remains concentrated, leading to tight spot supply in the market. On the demand side, downstream alloy plants show low acceptance of high-priced manganese ore, and actual transactions remain sluggish. Currently, SiMn alloy futures have hit the limit down, causing disturbances in the spot market, which may lead to bargain down purchasing prices for manganese ore in the future. The tug-of-war between sellers and buyers in the manganese ore market continues, putting upward pressure on future manganese ore prices.
February 11 News:
Northern Ports: Australian lump ore at 52-52.5 yuan/mtu; Australian fines at 44.5-45 yuan/mtu; South African semi-carbonate at 41-41.5 yuan/mtu; Gabonese ore at 50-52 yuan/mtu; South African high-iron ore at 30-30.5 yuan/mtu.
Southern Ports: Australian lump ore at 47.5-48 yuan/mtu; Australian fines at 45.5-46 yuan/mtu; South African semi-carbonate at 38.5-39 yuan/mtu; Gabonese ore at 47-49 yuan/mtu; South African high-iron ore at 29.5-30 yuan/mtu.
The manganese ore market currently shows slightly chaotic quotations, with miners showing weak willingness to sell at low prices. Port manganese ore inventory increased MoM, but spot manganese ore supply remains concentrated, leading to tight spot supply in the market. Demand side, downstream alloy plants have low acceptance of high-priced manganese ore, and actual transactions remain slow. Currently, SiMn alloy futures have hit the limit down, causing disturbances in the spot market, which may lead to bargain down purchasing prices for manganese ore in the future. The manganese ore market is experiencing a tug-of-war between sellers and buyers, and upward price movement faces pressure.
