Manganese ore prices have continued to remain stable during the past week in the local Chinese market. The possibility of a sharp fluctuation in the short term is relatively low. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.85-6.92/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.62-6.77/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.38-6.62/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.15-6.41/dmtu.
This week, manganese ore market has remained weak and traders has lost their confidence for the future market. However, Australian miner BHP Billiton issued its manganese ore shipment price to China, and this has caused the Chinese manganese ore market to remain stable. The downstream demand in China is still sluggish and there is no support for upward movement. Power cuts also influenced the southern part of China, so ferroalloy manufacturers' production has been affected. However, due to regular imports, the supply volume is not expected to witness a sharp drop in the coming period. Consequently, the inventory pressure is foreseen to prevail. Overall, it is estimated that the manganese ore market will remain steady in the next few weeks.