Chinese domestic manganese ore prices have continued to soften slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.38/dmtu (RMB 36 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.08/dmtu (RMB 34/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.08/dmtu (RMB 34/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.23/dmtu (RMB 35/dmtu). ($1 = RMB 6.696)
Overall trading activity for manganese ore in China has remained weak. Inventory levels at Chinese ports have continued to increase, thereby exerting pressure on ore prices. Overseas suppliers’ manganese ore quotations have also decreased, but by a very small margin. The downstream demand side is also very weak but, since manganese ore prices are already at a very low level, trading activity may improve during the coming period. As for the week ahead, it is believed that manganese ore prices in China may return to a mostly stable trend.