Chinese domestic manganese ore prices have continued their slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.39/dmtu (RMB 35.5 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.08/dmtu (RMB 33.5/dmtu). Also, at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.08/dmtu (RMB 33.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.24/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has remained weak. Overseas suppliers’ quoted prices have resumed a stable trend as has the downstream manganese alloy market, and this has provided some support for manganese ore prices. However, inventory levels of manganese ore at Chinese ports have continued to increase, causing most traders to reduce their manganese ore prices slightly. As for the week ahead, considering the pressure from the downstream side and from market inventory, it is believed that manganese ore prices could move sideways or soften slightly.
$1 = RMB 6.590