The Chinese domestic manganese ore market has showed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.27/dmtu (RMB 51.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.92/dmtu (RMB 49/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.99/dmtu (RMB 49.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.35/dmtu (RMB 45/dmtu).
Overall trading activity in the Chinese manganese ore market has been at low levels in the past seven days. Overseas suppliers’ manganese ore quotations have moved sideways though with some downticks, while the Chinese currency has been giving strong support to manganese ore costs. Downstream manganese alloy producers’ production volumes have been limited by environmental protection measures especially in Ningxia and Inner Mongolia, contributing to the ongoing weakness for manganese ore. As for the week ahead, considering the weak demand, it is believed that manganese ore prices in China may soften slightly.
$1 = RMB 7.08