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Recently, the manganese ore market has experienced slight fluctuations, with some traders wanting to raise their prices. However, downstream buyers have not accepted the higher offer, and transaction prices remain deadlocked. As the Chinese National Day holiday approaches, the factories are gradually stocking up, and some manufacturers are purchasing in small quantities. Overall market demand is average.
In terms of future market, UMK announced that the shipping price for manganese ore from South Africa to China in October 2024 is 3.7 US dollars/dmtu of South Africa's manganese ore 36% lumps (a decrease of 0.1 US dollars/dmtu (month on month).
Recently, the volume of manganese ore arriving at the China's port has been at a high level, and there is still an expectation of an increase in inventory. During the National Day holiday, inventory will be increased, and inventory remains a key factor restricting prices.