Chinese domestic manganese ore prices have declined during the Chinese National Day holiday period. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.72/dmtu (RMB 47.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.50/dmtu (RMB 46/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.29/dmtu (RMB 44.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.01/dmtu (RMB 42.5/dmtu).
Overall trading activity in the Chinese manganese ore market has been at low levels. Overseas suppliers’ manganese ore quotations have showed a decreasing tendency in the past weeks, resulting in the soft trend of the domestic market. Meanwhile, downstream manganese alloy prices have also mostly softened, which may influence demand for manganese ore and contribute to the downward trend of ore prices. As for next week, considering the weakness of costs and of the downstream alloy market, it is believed that manganese ore prices in China may move down slightly even though there may be some improvement in demand following the holiday period.
$1 = RMB 7.073