BUYER: DEFENSIVE
Pricing assessment-based · No exchange futures
Manganese ore prices have corrected 15% from Q1 highs amid weakening cost support and sluggish end-use demand. The market enters a broadly balanced phase after the seasonal restocking rally faded. South African logistics constraints and potential Gabonese export restrictions create upside risk, while destocking in China and moderating steel demand cap near-term gains. Procurement strategy: maintain 30-45 day coverage, target entries near 30 CNY/mtu support.
Spot Price (32% Mn ore)
31.75
CNY 31.75/mtu · SMM Tianjin port · Jun 17
YoY Change
+8.1%
vs Jun 2025 · ESTIMATE
YTD Change
+2.3%
from Jan 2026 open
52-Week Range
28.75 – 37.45
CNY/mtu · Low: Dec 2025 · High: Mar 2026
Data: FACT 14 · ESTIMATE 2 · SPECULATION 0