The Chinese domestic manganese ore market has moved on a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.94/dmtu (RMB 76/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.79/dmtu (RMB 75/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $10.50/dmtu (RMB 73/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.92/dmtu (RMB 62/dmtu).
Activity in the Chinese manganese ore market is still weak amid low demand from downstream buyers, while a minor rise in manganese ore supply in the past week has contributed to the slight decline in ore prices. Pressure to bring in funds approaching the end of the year also contributed to the softness of prices. The stable movement or slight upticks in overseas miners’ prices have provided support for manganese ore prices in China. As a result, it is thought that the Chinese manganese ore market will resume its stable trend in the week ahead.