The Chinese domestic manganese ore market has moved on a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $11.82/dmtu (RMB 80/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $11.67/dmtu (RMB 79/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $11.67/dmtu (RMB 79/dmtu), while offers of South African lump ore of 38 percent Mn content are at $9.16/dmtu (RMB 62/dmtu). ($1 = RMB 6.77)
Overall trading activity in the Chinese manganese ore market has been at low levels in the past week. While traders may be willing to offer discounts, downstream buyers are maintaining a wait-and-see stance. With the end of the year approaching, traders may reduce their prices slightly in order to boost sales and bring in funds. At the same time, high costs and high quotations from overseas miners will provide support for domestic manganese ore prices. It is believed that manganese ore prices in China may trend sideways in the week ahead, or may soften slightly for some ore.