Chinese domestic manganese ore prices have continued to soften during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $4.93/dmtu (RMB 34.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.71/dmtu (RMB 33/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.79/dmtu (RMB 33.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.79/dmtu (RMB 33.5/dmtu).
Overall trading activity for manganese ore in the Chinese market has remained at weak levels since prices have continued to move downwards, mainly due to the soft trend of downstream manganese alloy prices. Overseas suppliers’ ore quotations have not shown any large decreases, though one rumor indicates that South Africa lump ore may continue its declining trend. As for the week ahead, most traders believe there is not much space for ore prices to decrease further following previous declines. It is believed that manganese ore prices in China may just indicate minor downticks in the coming week.
$1 = RMB 6.999