The Chinese domestic manganese ore market has mostly followed a stable trend in the past week, though with slight downticks also seen in some prices. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.57/dmtu (RMB 52/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.13/dmtu (RMB 50/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.28/dmtu (RMB 49/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.40/dmtu (RMB 44/dmtu). ($1 = RMB 6.87)
Overall trading activity in the Chinese manganese ore market has remained weak in the past seven days as a wait-and-see mood prevails in the market, while the downstream manganese alloy market has been following a slightly soft trend. With manganese ore quotations from foreign suppliers moving up and with ore inventories at Chinese ports down slightly, it is believed that there will be sufficient support for domestic manganese ore prices to move sideways in the coming week.