The Chinese domestic manganese ore market have moved sideways during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.12/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.83/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.68/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.98/dmtu (RMB 41/dmtu).
Overall trading activity in the manganese ore market in China has been at very low levels due to the proximity of the Chinese New Year holiday. The downstream manganese alloy market has moved down slightly and demand for manganese ore has decreased. Ore inventory levels at Chinese ports have lately increased, which may exert pressure on manganese ore prices. As for the week after the Chinese New Year holiday, it is believed that manganese ore prices in China may see a stable trend, with some slight downticks also.
$1 = RMB 6.861