The 2026 H1 manganese market trended up first and down later, with high-level volatility driven by persistent friction between rigid high-cost support and weak terminal demand. The H2 market is poised for cost-supported limited recovery. Firm overseas ore prices will underpin the market, while high port inventories cap upside. Silicomanganese prices are expected to trend higher on production cuts and destocking, with rebound room constrained by demand recovery progress.
Jul 9, 2026 10:04On August 21, the SM2601 contract opened at 5850 and finally closed at 5838 yuan/mt, down 0.10%. The highest price was 5870 yuan/mt and the lowest price was 5826 yuan/mt. Trading volume was 161,343 lots and open interest was 288,840 lots. Cost side, manganese ore prices declined but the drop was limited. Coupled with high coke prices, the cost support for SiMn alloy remained strong. Futures side, today's SiMn futures prices fluctuated, and there was a strong wait-and-see sentiment among SiMn alloy producers. Spot side, today's spot SiMn prices were stable. Given the impact of futures fluctuations, most alloy producers held back from selling, paying close attention to changes in the futures market.
Aug 21, 2025 17:11SMM will launch new pricing for manganese-rich slag from Shanxi (30%-35% Mn) and Hunan (30%-31% Mn) starting May 8, 2026, to improve market transparency and trading efficiency.
PriceApr 29, 2026 17:54Dear Industry Peers, Imported manganese ore is a key raw material for manufacturing products such as silicomanganese alloy and ferromanganese alloy, with high-quality manganese ore being particularly favored by the market. Australian manganese ore is a mainstream and high-frequency oxide ore globally, serving as an important reference standard for global manganese ore pricing, and its price fluctuations directly impact the cost chain of global manganese-based alloys. Tianjin Port and Qinzhou Port are the main unloading ports for imported manganese ore in China. Equipped with complete storage facilities, these two ports feature high single-vessel unloading efficiency and large manganese ore reserve capacity. The formed complementary pattern of "Tianjin in the north and Qinzhou in the south" has enhanced China's bargaining power in global manganese ore trade. Prices at Tianjin Port (north) and Qinzhou Port (south) serve as benchmarks for global manganese ore pricing, which are referenced by both domestic and foreign ore merchants. To actively respond to market changes, meet the urgent demand of users for understanding the prices of Australian Mn42% manganese ore at Tianjin Port and Qinzhou Port, and improve the transparency of market information, SMM has decided: Commencing December 31, 2025, SMM will officially launch two new price: SMM Mn Ore, Australia Block 42%, In-whs-Tianjin Port, Yuan/ton-degree SMM Mn Ore, Australia Block 42%, In-whs-Qinzhou Port, Yuan/ton-degree Details of this price point are as follows: Description: SMM Mn Ore, Australia Block 42%, In-whs-Tianjin Port, Yuan/ton-degree Quality: Mn 42% Quantity: Min 100 tonnes Definition: EX-warehouse-Tianjin Port Brand Listing: South 32,etc Timing: Prompt Unit: Yuan/ton-degree Payment Terms: Cash on same day, other payment terms normalized Pulication: Daily, by 11am Beijing Time (i.e., before 4:00 AM London Summer Time before 3:00 AM London Winter Time) Description: SMM Mn Ore, Australia Block 42%, In-whs-Qinzhou Port, Yuan/ton-degree Quality: Mn 42% Quantity: Min 100 tonnes Definition: EX-warehouse-Qinzhou Port Brand Listing: South 32,etc Timing: Prompt Unit: Yuan/ton-degree Payment Terms: Cash on same day, other payment terms normalized Pulication: Daily, by 11am Beijing Time (i.e., before 4:00 AM London Summer Time before 3:00 AM London Winter Time) SMM Nickel Industry Research Department December 26, 2025
PriceDec 26, 2025 11:19