Some steel mills in
China have already completed their manganese ore purchases for June. Most buyers are now sitting on the sidelines as traders have increased their quotations for manganese ore in the current market. Accordingly, transaction activity in the local manganese ore market has been stagnant in the past week. The mainstream quotations of Australian lump ore with 44 percent Mn content stand at $6.83-6.91/dmtu at
China's Tianjin port, while offers of South Africa origin lump ore of 44 percent Mn content are at $6.75-6.91/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.35-6.60/dmtu，while offers of South African origin lump ore of 38 percent Mn content are at $6.22-6.29/dmtu.
Manganese ore inventories at Chinese ports have declined slightly, though inventory levels still remain relatively high. Importing enterprises have not lost confidence due to the current lull in market activity, basing their hopes on lower prices of manganese ore from Australian miner BHP Billiton. Nevertheless,
China's import volume of manganese ore is expected to be below one million mt in May. In the short run, local traders will continue to adopt a wait-and-see stance, waiting for the manganese ore purchase prices which will be issued in June by domestic steelmaker Hebei Steel.