Southern Manganese (01091) continued to decline. Today, it rebounded by more than 14%. As of press release, it rose 12.5% to HK$0.54, with a turnover of HK$21.1253 million.
The Zhitong Finance App learned that Southern Manganese (01091) continued to decline. Today, it rebounded by more than 14%. As of press release, it had risen 12.5% to HK$0.54, with a turnover of HK$21.1253 million.
CITIC Securities said that the South32 GEMCO mine in Australia, the world's largest manganese producer, was forced to stop all operations due to the hurricane, which is expected to reduce manganese ore supply by about 10% in 2024, corresponding to a 350,000 ton reduction in domestic manganese ore imports per month. This disturbance will stimulate a sharp rise in manganese ore prices, and is expected to hit the 2016 price highs, and the prices of silicon-manganese and electrolyzed manganese products will also rise.
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.