Chinese domestic manganese ore prices have continued to decrease during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.16/dmtu (RMB 43.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.94/dmtu (RMB 42/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.73/dmtu (RMB 40.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.73/dmtu (RMB 40.5/dmtu).
Overall trading activity in the past seven days in the local Chinese manganese ore market has been at low levels amid the declining trend of the downstream manganese alloy market. Overseas suppliers’ manganese ore quotations have softened slightly. As for the week ahead, most traders are unwilling to decrease their prices further by significant margins and so it is believed that manganese ore prices in China may move sideways, though with some slight downticks also possible.
$1 = RMB 7.067