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Recently, the price of manganese ore in the market has been chaotic, with varying levels of quotes. With the future quotes from Comilog, spot prices of Gabon have been the first to decline, while other mines have limited fluctuations compared to before the holiday. Although there are a few high quotes, the difficulty of transactions is relatively high. The price of South Africa's manganese ore 37% in Tianjin Port is around 33 yuan/dmtu. The inventory of manganese ore in Qinzhou Port is declining, and the cargos are gradually concentrated by traders.
The spot market for silicon manganese is fluctuating. Downstream steel mills are gradually purchasing. The northern region reported the ex factory prices of silicon manganese 6517 at 6,200-6,300 yuan/ton.
Regarding the future market, South32 has launched a bidding process. Currently, the market bidding prices are low and we are waiting for the announcement of the market. Recently, Tianjin Port's inventory has accumulated, and the pressure of port inventory is quite obvious, which has a certain constraint on prices.