The Chinese domestic manganese ore market has continued its downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.03/dmtu (RMB 50/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.88/dmtu (RMB 49/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.60/dmtu (RMB 47/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.60/dmtu (RMB 47/dmtu).
Overall trading activity in the Chinese manganese ore market has been slack in the past week. Downstream manganese alloy prices have indicated a soft trend, which has contributed to the weakness of manganese ore prices. Also, increased supply volumes have kept inventories at ports at high levels. As for the week ahead, some traders are worried that the coronavirus may still impact the supply side, causing foreign suppliers to close at any time. However, due to the weakness of the manganese alloy market, it is believed that manganese ore prices in China may indicate slight downticks.
$1 = RMB 7.117