Demand weakens further in local Chinese manganese ore market

Tuesday, 09 December 2014 11:44:47 (GMT+3)   |   Shanghai
       

The Chinese domestic manganese ore market has moved on a downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.37/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.69/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.20/dmtu, while offers of South African lump ore of 38 percent Mn content are at $4.72/dmtu.

With electricity supply charges increasing in southern China and with manganese alloy prices continuing to soften, downstream manganese alloy producers have chosen to reduce their outputs or even halt production. Accordingly, domestic demand for manganese ore has weakened further. Traders have finally decided to reduce their prices in order to attract demand and bring in some cash. As for the coming week, it is believed that the Chinese domestic manganese ore market will resume its stable trend as traders wait to see how buyers respond to the reductions in prices. 


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