Manganese ore prices have continued to remain stable during the past week in the local Chinese market. At the present time, supply generally exceeds demand in the domestic market. Most manganese ores suppliers are losing confidence in the market because of the influence of the continuing slackness of demand. Mainstream suppliers consider that manganese ore prices will remain stable in the short term. 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.
The authorities in Guangxi have announced the closure of 176 manganese mines within the scope of their mine improvement program. Meanwhile, similar closures of manganese mines have been seen in Hunan. Accordingly, manganese ore prices have risen slightly in both Guangxi and Hunan. However, due to the significant volumes of imported ore and the depressed downstream market, there is not much room for increases in manganese ore prices. On the steel mills' side, the softening of steel product prices means a reduction in funds available to steel mills and a reduced likelihood of early replenishing of manganese stocks ahead of the winter. To sum up, in the short term the trading volume in the Chinese manganese ore market could improve compared with before, though prices may remain steady.