Chinese domestic manganese ore prices have moved sideways or declined slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.71/dmtu (RMB 58.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.33/dmtu (RMB 56/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.33/dmtu (RMB 56/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.59/dmtu (RMB 51/dmtu). ($1 = RMB 6.72)
Overall trading activity in the Chinese manganese ore market has been at low levels in the past seven days, while some minor downticks have been observed in certain prices because of the VAT rate reduction and since increases in the downstream manganese alloy market have been smaller than anticipated. Overseas suppliers’ manganese ore quotations still provide support for domestic market prices. Meanwhile, downstream demand for manganese ore may start to increase. As for the week ahead, it is believed that domestic manganese ore prices may indicate an overall sideways movement.