Spot market prices of manganese ore at Chinese ports have indicated stable movement in the past week. There is still strong demand for manganese ore with high Mn content. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.66-6.78/dmtu at
China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.56-6.71/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.26-6.50/dmtu, while offers of South African lump ore of 38 percent Mn content are at $5.96-6.22/dmtu.
This week, the trading volume of manganese ore at
China's northern ports has improved somewhat, while trading at southern ports has remained slack. Reduced silicomanganese production activity has meant that demand for manganese ore from silicomanganese producers has declined somewhat. Although quoted manganese ore prices are stable, actual deal prices have dropped slightly at Tianjin port, mainly due to pressure from inventory and traders' lack of funds. In this context, some traders prefer to cut their prices in order to conclude deals and bring in cash. Some traders told SteelOrbis that manganese ore booked in July and August is now arriving at Chinese ports, while inventory is also increasing at the ports due to reduction in silicomanangese production. Accordingly, manganese ore demand in
China is not expected to improve in the short term and a slight softness is expected to be seen in manganese ore prices in
China in the coming week.