manganese ore market analysis

The manganese ore market is in a state of confusion, with some sellers showing increased willingness to offload their stock.
Today, manganese ore continued to weaken, with relatively chaotic quotations, and factories had a strong desire to press down on prices. Some factories continued to inquire but had only moderate purchasing intentions. The overall market confidence was low, with only a small amount of low-priced transactions. The price for semi-carbonate at Tianjin Port was around 35-36 yuan/tonne degree, and the price for oxide ore was around 53-54 yuan/tonne. There were some low-priced transactions. The manganese ore market was weak in Qinzhou Port, with chaotic transaction prices. The price for semi-carbonate was around 38-39 yuan/tonne degree, the offer for Gabon ore was 57 yuan/tonne degree, and the offer for Australian seed ore was 51-52 yuan/tonne degree.
Downstream: On the futures end, the SiMn main contract 01 closed at 6580, down 1.56%, or 104 points, with a daily increase in open interest of 3,515 hands. On the spot market, the SiMn market was trading at low levels and fluctuated narrowly, with northern factories' production temporarily showing no significant fluctuations. The northern region reported a cash outlet price of 6,517 yuan per tonne, ranging from 6,150 to 6,350 yuan per tonne, while the southern region reported a price range of 6,250 to 6,350 yuan per tonne. Recent steel tenders have centered around 6,350-6,550 yuan, with prices falling short of expectations.
Overall, the manganese ore market is expected to fluctuate downwards in the short term, with the downstream's demand for SiMn weakening, insufficient support from the manganese ore end, and an increasing willingness among some to sell at low prices. The steel tender price has not boosted the SiMn price, and further attention needs to be paid to the factories' purchasing and stocking activities, as well as the expected shutdowns and maintenance. The manganese ore end-market price is expected to be weak in the near term.

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