Southern Manganese (01091) rebounded by more than 14% in the afternoon. As of press release, it rose 14.54% to HK$0.26, with a turnover of HK$3.22 million.
The Zhitong Finance App learned that Southern Manganese (01091) rebounded by more than 14% in the afternoon. As of press release, it had risen 14.54% to HK$0.26, with a turnover of HK$3.22 million. Notably, the company's stock price plummeted 60% on the day trading resumed on February 5.
According to reports, the commercial landscape of the Southern Manganese Industry mainly revolves around the raw material manganese metal. Judging from downstream applications, manganese is not only the basic raw material for the steel industry, but also the main raw material for manganese-based batteries. Among them, the steel industry is the main downstream industry of the southern manganese industry.
In the past two years, due to insufficient downstream demand due to the economic recovery process falling short of expectations, the balance between supply and demand in the previously popular new energy industry has been disrupted, and the prosperity of manganese ore and its extended manganese deep processing industry chain has been greatly affected. Taking electrolytic manganese metal products as an example, the average selling price of this product of 23H1 Southern Manganese Industry fell 41% to HK$14,695 per ton; during the same period, the average selling price of the division's electrolytic manganese dioxide (battery material) also dropped 3% to HK$15,916.