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[SMM Manganese Ore Weekly Review] Miners Show Strong Sentiment to Stand Firm on Quotes, Spot Market Fluctuates Upward
Feb 07, 2025, at 10:02 am
As of this Friday, northern ports: Australian lump ore at 50-50.5 yuan/mtu; Australian fines at 43.5-44 yuan/mtu; South African semi-carbonate at 39.5-40 yuan/mtu; Gabonese ore at 48-50 yuan/mtu; South African high-iron ore at 30-30.5 yuan/mtu, flat MoM. Southern ports: Australian lump ore at 46.5-47 yuan/mtu; Australian fines at 44.5-45 yuan/mtu; South African semi-carbonate at 37.5-38 yuan/mtu; Gabonese ore at 45.5-47.5 yuan/mtu; South African high-iron ore at 29.5-30 yuan/mtu, flat MoM.
During the week, influenced by news of reduced manganese ore shipments in the future and coupled with relatively low manganese ore inventory at ports, miners showed strong sentiment to stand firm on quotes, maintaining a firm pricing trend. The manganese ore spot market continued to fluctuate upward. Most downstream alloy plants had sufficient stockpiling before the holiday, leading to weak enthusiasm for manganese ore procurement. Currently, inquiries in the manganese ore market are active, but alloy plants have low acceptance of high-priced manganese ore, resulting in sluggish actual transactions.
As of this Friday, northern ports: Australian lump ore at 50-50.5 yuan/mtu; Australian fines at 43.5-44 yuan/mtu; South African semi-carbonate at 39.5-40 yuan/mtu; Gabonese ore at 48-50 yuan/mtu; South African high-iron ore at 30-30.5 yuan/mtu, flat MoM. Southern ports: Australian lump ore at 46.5-47 yuan/mtu; Australian fines at 44.5-45 yuan/mtu; South African semi-carbonate at 37.5-38 yuan/mtu; Gabonese ore at 45.5-47.5 yuan/mtu; South African high-iron ore at 29.5-30 yuan/mtu, flat MoM.
During the week, affected by news of reduced manganese ore shipments in the near future, coupled with relatively low port inventory of manganese ore, miners showed strong sentiment to stand firm on quotes, with external offers maintaining a firm trend. The manganese ore spot market continued to fluctuate upward. Most downstream alloy plants had sufficient stockpiling before the holiday, leading to weak enthusiasm for manganese ore procurement. Currently, inquiries in the manganese ore market are active, but alloy plants show low acceptance of high-priced manganese ore, resulting in sluggish actual transactions.
