[SMM Daily Review] Downstream Procurement Remains Cautious, Manganese Ore Spot Market Temporarily Stable
January 7:
Northern Ports: Australian lump at 41.5-42 yuan/mtu (flat MoM); Australian fines at 38-38.5 yuan/mtu (flat MoM); South African semi-carbonate at 33.5-34 yuan/mtu (up 1.50% MoM); Gabonese ore at 38-38.5 yuan/mtu (up 1.32% MoM); South African high-iron ore at 28.5-29 yuan/mtu (flat MoM).
Southern Ports: Australian lump 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 40.5-41 yuan/mtu (up 1.24% MoM); South African high-iron ore at 29-29.5 yuan/mtu (flat MoM).
Total manganese ore inventory at ports decreased MoM, with destocking accelerating at northern ports and inventory buildup observed at southern ports. Miners' quotations remained firm, with some showing strong reluctance to sell and weak willingness to sell at low prices. Downstream alloy plants were cautious in manganese ore procurement, with some engaging in limited pre-holiday stockpiling, while most showed low acceptance of high-priced manganese ore. Currently, downstream demand remains insufficient, and the manganese ore spot market is temporarily stable.
January 7 News:
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 33.5-34 yuan/mtu, up 1.50% MoM; Gabonese ore at 38-38.5 yuan/mtu, up 1.32% 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 40.5-41 yuan/mtu, up 1.24% MoM; South African high-iron ore at 29-29.5 yuan/mtu, flat MoM.
Total manganese ore inventory at ports decreased MoM, with destocking accelerating at northern ports and inventory buildup at southern ports. Miners' quotations remained firm, with some miners showing strong reluctance to sell and weak willingness to sell at low prices. Downstream alloy plants were cautious in manganese ore procurement, with some engaging in small-scale pre-holiday stockpiling, while most showed low acceptance of high-priced manganese ore. Currently, downstream demand remains insufficient, and the manganese ore spot market is running steadily.
