The Chinese domestic manganese ore market prices have showed a downward trend during past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.06/dmtu (RMB 50/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.78/dmtu (RMB 48/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.63/dmtu (RMB 47/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.21/dmtu (RMB 44/dmtu).
In the given week, overall trading activity in the local Chinese manganese ore market has been at low levels. Traders have mostly hold a negative view and continued to adopt a wait and see stance. As for the week ahead, it is believed that manganese ore prices will remain stable with slightly downward movement.
$1 = RMB 7.08