SMM

[SMM Daily Review] Market Remains Stable at the Beginning of the Month as Participants Adopt a Wait-and-See Approach April 1: Northern Ports: Australian lump ore at 47-47.5 yuan/mtu, flat MoM; Australian seed ore at 41-41.5 yuan/mtu, flat MoM; South African semi-carbonate ore at 37.5-38 yuan/mtu, flat MoM; Gabonese ore at 46.5-47.5 yuan/mtu, flat MoM; South African high-iron ore at 30-30.5 yuan/mtu, flat MoM. Southern Ports: Australian lump ore at 45-45.5 yuan/mtu, flat MoM; Australian seed ore at 42-42.5 yuan/mtu, flat MoM; South African semi-carbonate ore at 36-36.5 yuan/mtu, flat MoM; Gabonese ore at 44-46 yuan/mtu, flat MoM; South African high-iron ore at 29.5-30 yuan/mtu, flat MoM. At the beginning of the month, miners showed weak willingness to actively offer prices, and the market mostly adopted a wait-and-see attitude. Downstream alloy plants are expected to reduce or halt production in the future, leading to cautious purchases of manganese ore, often with price negotiations. Currently, the tug-of-war between sellers and buyers in the manganese ore market continues, and the spot market remains stable with a wait-and-see approach.