China's manganese ore market has followed a stable trend in the past week. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.5-6.65/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.67/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.11-6.26/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.18/dmtu.
The trading volume of manganese ore at Chinese ports has declined significantly in the past week. At the same time, manganese ore inventory levels have continued to decrease slightly, while domestic manganese ore prices have remained stable. Given the softening observed in the steel markets in May, expectations are generally negative for China's manganese alloy market. Most manganese ore traders are keeping a close eye on the manganese alloy price trend. Traders are maintaining a wait-and-see stance and do not intend to reduce their prices for manganese ore at present. Accordingly, China's manganese ore market is expected to maintain a stable trend in the coming period, though announcements of manganese alloy purchase prices by downstream users in mid-June may impact manganese ore prices.