The Chinese domestic manganese ore market prices have showed a slightly decrease trend during past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.67/dmtu (RMB 53/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.38/dmtu (RMB 51/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.38/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.66/dmtu.
Over the past week, prices in the local Chinese manganese ore market have decreased slightly, while overall trading activity has been at a normal levels. Foreign mills’ quoted prices for July mostly showed a slightly decrease trend which is the main reason lead domestic manganese ore price slightly reduce. Downstream alloy market quoted price also slightly reduced. The inventory level in ports continued at a high level which also cause prices reduced. Most traders hold a negative view for the manganese ore market. Therefore, as for the week ahead, it is believed that manganese ore prices may keep a slightly reduce trend.