Stable trend in Chinese manganese ore market price

Tuesday, 29 July 2014 13:07:29 (GMT+3)   |   Shanghai
       

The Chinese domestic manganese ore market has remained on a stable trend in the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.54/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.71/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.38/dmtu, while offers of South African lump ore of 38 percent Mn content are at $4.81/dmtu.

Domestic manganese ore prices in Chinese ports have remained unchanged over the past week. The overall trading volume is still on the low side. The high inventory levels in Chinese ports are still the main reason for the weak performance of manganese ore market. Meanwhile, profit margins for downstream alloy producers are quite slim so that the demand for manganese ore can hardly match the high inventory levels in ports. Experts believe that the stable trend in prices and weakness in demand may continue. Besides that, according to the market sources, BHP is selling its manganese ore business in Australia and South Africa to pay its debts, but domestic manganese ore prices have not responded that information yet. 


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