Spot market prices of manganese ore at Chinese ports have fluctuated in a downward direction in the past week. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.60-6.72/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.
Demand has been poor in the past week in the Chinese manganese ore market due to reduced production on the downstream side. In this context, it is difficult for prices to recover. The trading volume for manganese ore at northern ports is better than at southern ports. Prices in the Chinese silicon manganese market are fairly low, and so silicon manganese producers are finding it difficult to make a profit. Accordingly, many of them have chosen to reduce their outputs, causing demand for manganese ore to decline. In addition, there are less inquiries for manganese ore at Chinese ports. Most silicon manganese producers are focusing on the sale of stocks and are not rushing to purchase raw material. As a result, traders have no confidence about the prospects of the market improving in the short term and most of them are not inclined to buy manganese ore at present. A wait-and-see atmosphere prevails in the market at present.