HK Stock Market Move | SOUTH MANGANESE (01091) rose more than 18% at one point, with its stock price increasing by over 50% since the beginning of the month. The main contract for manganese silicon futures has hit its daily limit up.

South Manganese (01091) rose by over 18% at one point, with the stock price increasing by 50% since July 4. As of the time of writing, it has increased by 15.94%, reaching 0.4 Hong Kong dollars with a trading volume of 1682.88 million Hong Kong dollars. On the news front, in the afternoon of July 25, the main manganese silicon contract hit the limit up, rising by 8.02% to 6414 yuan/ton. CITIC Futures pointed out that with coke entering a period of price increases, strong support for manganese silicon costs is expected; market sentiment is warm, port ore merchants are actively supporting prices, and manganese ore prices are holding firm. On the supply side, manganese silicon daily production levels have been increasing for 8 weeks, manufacturers' profitability has significantly improved recently, and there is further growth in production driven by resumption. On the demand side, steel mills have good profit margins, finished product production remains stable at a high level, and downstream demand for manganese silicon remains resilient. Public information shows that South Manganese is an important supplier of manganese products globally, and is a major entity in drafting and approving national and industry quality standards for 8 manganese products, including electrolytic metal manganese. Its annual production capacity includes 200,000 tons of electrolytic metal manganese, 250,000 tons of silicomanganese alloy, and 100,000 tons of electrolytic manganese dioxide.