During the past week, the Chinese domestic manganese ore market has moved sideways for the third consecutive week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.23/dmtu (RMB 55/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.78/dmtu (RMB 52/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.63/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.74dmtu (RMB 45/dmtu). ($1 = RMB 6.68)
Overall trading activity in the Chinese manganese ore market has remained slack during the past week, while overseas suppliers’ quoted prices are unchanged compared to last month, thereby providing support for domestic manganese ore prices despite the weak demand situation. Downstream manganese alloy producers’ manganese ore inventories are mostly at high levels, which contributes to the weakness of demand for manganese ore. As for the coming week, it is believed that manganese ore prices in China may again continue their stable trend.