July 17 – North China ports: 46% Australian lumps 42.5-43 yuan/mtu, down WoW; South African semi-carbonate 35.7-36.2 yuan/mtu, down WoW; Gabonese 40-40.4 yuan/mtu, down WoW; South African high-iron 30-30.5 yuan/mtu, flat WoW; South African mid-iron 36-36.5 yuan/mtu, down WoW. South China ports: 46% Australian lumps 43.2-43.7 yuan/mtu, flat WoW; South African semi-carbonate 36.8-37.1 yuan/mtu, flat WoW; Gabonese 40.9-41.4 yuan/mtu, down WoW; South African high-iron 32.3-32.8 yuan/mtu, flat WoW; South African mid-iron 37.5-38 yuan/mtu, up WoW.

As of this Friday, SiMn 6517 (cash) in north China was at 5,750-5,800 yuan/mt, up WoW; SiMn 6517 (cash) in south China was at 5,800-5,850 yuan/mt, up WoW from last Friday, while SiMn 6014 (cash) in south China was at 5,350-5,400 yuan/mt, down WoW. Recently, SiMn futures moved sideways in a weak trend. A strong wait-and-see sentiment prevailed, with spot prices edging up slightly, but futures could not drive spot prices significantly higher.

[SMM EMM Weekly Review: Supply-Demand Easing Weighs on Market, EMM Grinds Lower This Week] The domestic EMM market consolidated on a subdued note this week. Spot prices pulled back slightly, while the tug-of-war between longs and shorts intensified, leaving the overall market in the doldrums. The cost side still received strong, rigid support, with prices of core raw materials such as manganese ore and sulphuric acid remaining firm......

As of this Friday, SiMn 6517 in north China was at 5,700-5,750 yuan/mt in cash, up WoW; SiMn 6517 in south China was at 5,750-5,800 yuan/mt in cash, up from last Friday; and SiMn 6014 in south China was at 5,450-5,500 yuan/mt in cash, flat WoW. Recently, SiMn futures weakened and moved sideways. The market saw a strong wait-and-see sentiment, with spot prices edging up, but futures could hardly drive spot prices significantly higher.

Jul 10 – North China ports: 46% Australian lumps at 43-43.5 yuan/mtu, prices down WoW; South African semi-carbonate at 36.5-37 yuan/mtu, prices down WoW; Gabonese at 40.3-40.7 yuan/mtu, prices down WoW; South African high-iron at 30-30.5 yuan/mtu, prices down WoW; South African medium-iron at 37-37.5 yuan/mtu, prices flat WoW. South China ports: 46% Australian lumps at 43.2-43.7 yuan/mtu, prices flat WoW; South African semi-carbonate at 36.8-37.1 yuan/mtu, prices up WoW; Gabonese at 41-41.5 yuan/mtu, prices flat WoW; South African high-iron at 32.3-32.8 yuan/mtu, prices down WoW; South African medium-iron at 37-37.5 yuan/mtu, prices flat WoW.

[SMM EMM Weekly Review: Off-Season Demand Drags, EMM Remains in Subdued Range-Bound Move] This week, China’s EMM market consolidated on a subdued note overall. Spot prices pulled back slightly, while the tug-of-war between longs and shorts in futures was intense, resulting in a pattern of consolidation on a subdued note. The cost side still provided rigid support, with prices of core raw materials such as sulphuric acid and manganese ore staying firm...

The high-purity manganese sulfate market staged a segmented performance in the first half of 2026, rallying in Q1 before slipping into corrective volatility in Q2. Q1 prices were buoyed by cost advantages and export policies, while Q2 came under pressure amid slack seasonal demand and expanded supply. Nevertheless, prices avoided a steep decline thanks to persistently high upstream raw material prices and the cushion of long-term orders, only fluctuating within a narrow band.

The spot price of domestic electrolytic manganese showed a clear staged trend in the first half of 2026: it first surged upward, retreated amid intensified long-short game, and then rebounded and stabilized supported by coordinated production cuts. The price center remained elevated throughout the period, underpinned mainly by high sulfuric acid costs and joint industry regulation.

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.

As of Friday, SiMn 6517 (cash) in north China was at 5,600-5,700 yuan/mt, down WoW; in south China, SiMn 6517 (cash) was at 5,650-5,750 yuan/mt, down WoW, and SiMn 6014 (cash) there was at 5,450-5,500 yuan/mt, down WoW. Recently, SiMn futures moved weakly sideways in a narrow range, with a strong wait-and-see sentiment in the market, low willingness to sell among producers, and weak spot and futures prices.