The Chinese domestic manganese ore market has followed a soft trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.78/dmtu (RMB 59/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.33/dmtu (RMB 56/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.33/dmtu (RMB 56/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.74/dmtu (RMB 52/dmtu). ($1 = RMB 6.72)
Overall trading activity in the past week has been at normal levels in Chinese manganese ore market where the softening of prices has mainly been due to the reduction in the VAT rate. No significant change has been seen in supply and demand. Downstream manganese alloy prices have weakened slightly. As for the week ahead, it is believed that domestic manganese ore prices may move sideways, with minor upticks also possible.