The Chinese manganese ore market has followed a slight downward trend in the past week, while inventory levels are down a little also. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.35-6.5/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.51/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.03/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.11/dmtu.
Traders in China's manganese ore market are maintaining a wait-and-see stance and the trading volume has been slack. South Africa-based UMK's manganese quotations have remained unchanged for August. At present, domestic manganese alloy producers are not showing great interest in concluding purchases, thereby increasing the risk of further downward movement in manganese ore prices. Traders are focused on keeping their inventories at low levels. The downward trend in China's manganese ore market is expected to continue in the coming seven days.