The Chinese domestic manganese ore market has followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.90/dmtu (RMB 60.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.38/dmtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.53/dmtu (RMB 58/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.94/dmtu (RMB 54/dmtu).
Overall trading activity has been at normal levels in the past seven days in the Chinese manganese ore market where prices have moved sideways influenced by the resumption of the stable movement of downstream manganese alloy prices. Meanwhile, downstream users have mostly been keeping their inventories at normal levels given the approach of the Chinese New Year holiday, and no strong improvement is anticipated in demand. While overseas suppliers’ have reduced their manganese ore quotations for February shipment, the impact of this reduction will be limited due to the approach of the holiday. Overall, it is believed that the Chinese manganese ore market will mainly continue its stable trend during the week ahead.