Chinese domestic manganese ore prices have continued their downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.16/dmtu (RMB 55/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.86/dmtu (RMB 53/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.86/dmtu (RMB 53/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.97/dmtu (RMB 47/dmtu). ($1 = RMB 6.74)
Overall trading activity has been at normal levels in the past week in the Chinese manganese ore market, while foreign miners’ manganese ore quotations to China have remained stable. However, downstream manganese alloy prices in China have recently been moving on a soft trend and most traders believe that prices for May shipment may continue to fall, which will mean reduced support for manganese ore prices. However, demand for manganese ore has remained at normal level. ,As for the coming week, it is believed that domestic manganese ore prices may resume their stable trend supported by the cost side, with just some slight downticks also possible.