Manganese Ore Market Warms Up, Spot Transaction Prices Rise [SMM Manganese Ore Daily Review]
September 16 news: Northern ports: Australian lumps 40.6-41.1 yuan/mtu, up 1.24% WoW; South African semi-carbonate 34.2-34.7 yuan/mtu, flat WoW; Gabonese 39.6-40.2 yuan/mtu, up 1.53% WoW; South African high-iron 29.4-29.9 yuan/mtu, flat WoW; South African medium-iron 35.3-35.8 yuan/mtu, up 0.57% WoW. Southern ports: Australian lumps 40.3-41 yuan/mtu, up 1.75% WoW; South African semi-carbonate 36.3-36.8 yuan/mtu, flat WoW; Gabonese 40.2-40.7 yuan/mtu, up 2.02% WoW; South African high-iron 30.5-31 yuan/mtu, flat WoW; South African medium-iron 36.7-37.4 yuan/mtu, up 0.54% WoW. Overall, manganese ore market prices remained firm recently, with market sentiment improving. Focus on actual demand from downstream alloy plants.
[SMM HRC Arrivals] Arrivals Narrowly Down WoW
SMM Steel, September 16 - According to SMM statistics, the estimated total resource shipments in mainstream markets this week were 231,500 mt, down 2.73% WoW. By market:
[SMM Spot Magnesium Ingot Quick Report: Magnesium Ingot Quotes Slightly Lowered Today, Cost Support Strengthens, Market Expects Firm Prices in the Future] On September 16, magnesium ingot ex-factory quotes in the Fugu region were 16,600-16,700 yuan/mt, a slight decrease of 50 yuan/mt compared to the previous day, with FOB prices at $2,390/mt. Market transactions were generally good, and magnesium producers showed increased willingness to raise prices in the afternoon. Due to the rise in dolomite raw material prices, cost support has strengthened. Magnesium prices are expected to continue their firm trend this week, with the market showing a stalemate with a slight upward bias.
[SMM Stainless Steel Daily Review: SS Futures Jump Initially and Then Pull Back With Strong Resistance Above 13,000 yuan/mt, Stainless Steel Spot Prices Pull Back and Trading Remains Weak] SMM, September 16: SS futures continued to show a pattern of jumping initially and then pulling back. Although the night session performed strongly overall, successfully breaking through 13,100 yuan/mt, the daytime session opened lower and gradually declined, falling back below 13,000 yuan/mt. In the spot market, morning trading was driven by the strong performance of SS futures, with traders raising their offers accordingly; however, actual transactions were relatively scarce. Subsequently, as futures weakened and agents lowered prices to move inventory, market offers followed suit downward, and sales pressure led to somewhat chaotic pricing. Downstream buyers exhibited strong wait-and-see sentiment, and actual transactions remained weak. On the futures side, the most-traded contract 2511 jumped initially and then pulled back. At 10:30 a.m., SS2510 was quoted at 13,045 yuan/mt, up 25 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 275-575 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,150 yuan/mt; for cold-rolled mill-edge 304/2B coil, the average price in Wuxi was 13,300 yuan/mt and in Foshan 13,330 yuan/mt; for cold-rolled 316L/2B coil, the price in Wuxi was 25,800 yuan/mt and in Foshan 25,800 yuan/mt; for hot-rolled 316L/NO.1 coil, both locations reported 25,200 yuan/mt; for cold-rolled 430/2B coil, both Wuxi and Foshan reported 7,600 yuan/mt. Although the market has entered the traditional consumption peak season of "September-October peak season"...
[Overseas Zinc Inventory Drops Below 50,000 mt, SHFE Zinc Unlikely to Fall in Short Term] The most-traded SHFE zinc 2510 contract opened at 22,330 yuan/mt, then fluctuated downward as the center of gravity shifted due to bulls reducing positions. It hit a low of 22,245 yuan/mt toward the close and finally settled at 22,255 yuan/mt, down 55 yuan/mt, or 0.25%. Trading volume decreased to 96,641 lots, and open interest fell by 7,012 lots to 84,991 lots.....