SMM

[SMM Daily Review] Weak Demand from Downstream Alloy Plants, Manganese Ore Spot Prices Remain Consolidated December 31: Northern Ports: Australian lump ore at 41.5-42 yuan/mtu (flat MoM); Australian fines at 38-38.5 yuan/mtu (flat MoM); South African semi-carbonate at 33-33.5 yuan/mtu (flat MoM); Gabonese ore at 37.5-38 yuan/mtu (flat MoM); South African high-iron ore at 28.5-29 yuan/mtu (flat MoM). Southern Ports: Australian lump ore at 43.5-44 yuan/mtu (flat MoM); Australian fines at 39-39.5 yuan/mtu (flat MoM); South African semi-carbonate at 34-34.5 yuan/mtu (flat MoM); Gabonese ore at 40-40.5 yuan/mtu (flat MoM); South African high-iron ore at 29-29.5 yuan/mtu (flat MoM). The total manganese ore inventory at northern and southern ports increased MoM, with inventory buildup at northern ports, while manganese ore at southern ports remained at low levels. Miners maintained firm offers, but market transactions were sluggish, and manganese ore spot prices remained consolidated. Downstream alloy plants showed weak enthusiasm for manganese ore procurement before the holiday, with a small number of low-priced transactions in the pre-holiday manganese ore market. Manganese ore prices still have a downward trend, and attention should be paid to post-holiday procurement by alloy plants.