The Chinese domestic manganese ore market has followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.03/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.74/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.60/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.89/dmtu (RMB 41/dmtu).
Overall trading activity in the local Chinese manganese ore market has been at low levels in the past seven days. Overseas suppliers’ manganese ore quotations have risen slightly again. However, most traders in the local market have chosen to keep their prices stable due to the soft trend in the downstream manganese alloy market, which has contributed to the ongoing weakness of demand for manganese ore. As for the week ahead, amid support from the cost side and the weakness of demand, it is believed that manganese ore prices in China will follow a mostly stable trend, with some slight downticks also possible.
$1 = RMB 6.969