Chinese domestic manganese ore prices have continued to indicate significant decreases during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.11/dmtu (RMB 36/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.97/dmtu (RMB 35/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.97/dmtu (RMB 35/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.90/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore has been at low levels as prices have continued to fall, mainly due to the ongoing decreases in overseas suppliers’ ore quotations. Sentiment among traders is mostly negative, with buyers mainly maintaining a wait-and-see stance. As for the week ahead, it is believed that manganese ore prices in China may continue to fall further.
$1 = RMB 7.038