Southern Manganese (01091) rose more than 11%, and its stock price has risen more than 1.4 times in the past month. As of press release, it rose 11.86% to HK$0.66, with a turnover of HK$18.6093 million.
The Zhitong Finance App learned that Southern Manganese (01091) has risen more than 11%, and its stock price has risen more than 1.4 times in the past month. As of press release, it rose 11.86% to HK$0.66, with a turnover of HK$18.6093 million.
According to the news, Australian mining company South32 revealed in its 2024 first quarter report that due to tropical cyclone Megan from March 16 to 17, the company's critical infrastructure on Groote Island was severely damaged, and the company's GEMCO manganese ore operations were interrupted. It is expected that terminal operations and manganese ore export business will resume in the first quarter of 2025. CITIC Securities believes that the suspension of operations of the main manganese ore under South32, the world's largest manganese ore producer, is expected to reduce the global supply of manganese ore by more than 10% in 2024.
Minmetals Futures pointed out that the South32 manganese ore incident in Australia continues to ferment, and domestic manganese ore prices continue to rise sharply, approaching the 2020 high. Manganese ore prices have risen nearly 60% in the past month. According to reports, Nanfang Manganese is an important supplier of manganese products in the world, and is the main unit for drafting and approving quality standards for eight countries and industries of manganese products, including the electrolytic metal manganese. It has an annual production capacity of 200,000 tons of electrolytic manganese, 250,000 tons of silicon-manganese alloys, and 100,000 tons of electrolytic manganese dioxide per year.