Chinese domestic manganese ore prices have declined sharply during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.69/dmtu (RMB 48/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.69/mtu (RMB 48/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.62/dmtu (RMB 47.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.30/dmtu (RMB 38/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has become weak again, while strong decreases have been seen in prices amid the sharp declines in manganese alloy prices. However, foreign manganese ore producers’ quoted prices have remained at high levels, while low supply volumes have also provided some support for manganese ore price. As for the week ahead, considering the support from the cost side but the weak tendency of the downstream alloy market, it is believed that manganese ore prices may see some small fluctuations.
$1 = RMB 7.170
