Chinese domestic manganese ore prices have mostly followed a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.07/dmtu (RMB 36 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.93/mtu (RMB 35/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.00/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.79/dmtu (RMB 34/dmtu).
Overall trading activity in the domestic manganese ore market has been at a low level since downstream manganese alloy prices have been following a soft trend lately. Foreign manganese ore producers’ quoted prices have continued to rise slightly, providing support for manganese ore prices. However, since downstream manganese alloy prices are still moving down, most manganese ore traders have chosen to reduce their prices by small margins in order to close more deals. As for the week ahead, it is believed that manganese ore prices may indicate small fluctuations.
$1 = RMB 7.096