Quotations in the Chinese manganese ore market have remained stable in the past week, though there has been a slight decrease in actual deal prices. The volume of inquiries has increased, but the overall trading volume is still slack. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.36-6.52/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.50-6.67/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $5.71-5.87/dmtu, while offers of South African lump ore of 38 percent Mn content are at $5.87-6.02/dmtu.
With the domestic steel market declining further and the silicon manganese market indicating weakness, downward pressure on China's manganese ore market has increased. Some traders are worried that silicon manganese producers may decide to switch from production of silicon manganese, and so they are ready to cut their prices slightly in order to conclude deals. Australian miner BHP Billiton has kept its manganese ore quoted price for March unchanged. According to some traders, the unchanged BHP Billiton price may indicate negative expectations of foreign suppliers regarding the price trend in the China market. Manganese ore inventory levels at Chinese ports are high, while sales activity is slow. The trend in the Chinese manganese ore market is expected to be either stable or slightly soft in the coming week.