The Zhitong Finance App learned that Southern Manganese (01091) rose nearly 25% in the morning. As of press release, it rose 24.07% to HK$0.335, with a turnover of HK$11.2093 million.
According to the news, according to a report from My Steel Network, there was a clear rise in the manganese ore market on April 8. Most miners chose not to bid for the time being. Some prices were mainly based on higher prices. Prices for mainstream mines increased significantly. Tianjin Gangcheng had a small number of high-ranking transactions. As goods rights were concentrated, manganese ore was not shipped at low prices for the time being. In the new round, foreign market prices are high, and miners are less willing to ship, and shipments are being carried out after waiting for a substantial increase in manganese ore prices. Currently, the main trend is to wait and see the price increase.
CITIC Futures previously stated that South32 announced that Australian manganese ore shipments had encountered force majeure, cancelled the remaining delivery plan for March and plans to ship manganese ore in April, and plans to ship manganese ore in May are pending. The accident played a role in easing the short-term conflict between supply and demand, but in the medium term, downstream demand will rise further.