Chinese domestic manganese ore prices have continued to move down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.67/dmtu (RMB 46/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.24/dmtu (RMB 43/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.16/dmtu (RMB 42.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.00/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has increased and is considered to be at normal levels. Foreign manganese ore producers have mostly held their quoted prices stable, providing support for local manganese ore prices. However, the downstream manganese alloy market has indicated a soft trend and manganese alloy producers have mostly been seeking to exert pressure on manganese ore prices in order to maintain their profit margins. Meanwhile, traders have generally been willing to offer certain discounts in order to close more deals. As for the week ahead, considering that the demand side may see a recovery and that support from the cost side is still strong, it is believed that manganese ore prices may resume a stable trend.
$1 = RMB 6.895
