The Chinese domestic
manganese ore market has moved on a decreasing trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.47/dmtu (RMB 45/dmtu) at
China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.33/dmtu (RMB 45/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.90/dmtu (RMB 41/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.32/dmtu (RMB 37/dmtu). ($1 = RMB 6.95)
High inventories at ports and weak demand are the main reasons for the soft trend of the Chinese
manganese ore market during the past week, while traders are reluctant to take a risk and build up stocks during the current downtrend of prices. In addition, downstream manganese alloy prices are also characterized by a soft trend at present. As for the coming week, it is believed that
manganese ore prices in
China may indicate a slight decrease.