Chinese domestic manganese ore prices have decreased by significant margins during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.41/dmtu (RMB 44/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.93/mtu (RMB 47.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.56/dmtu (RMB 45/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.12/dmtu (RMB 42/dmtu).
Overall trading activity in the domestic manganese ore market in China has continued to slacken over the past week and is current considered to be at weak levels, while prices have decreased by large margins especially due to the weakness of demand, and also due to the declines in manganese alloy prices. Manganese ore traders have been seeking to close more deals by offering at lower price levels. As for the week ahead, it is believed that manganese ore prices may continue to follow their downward trend.
$1 = RMB 6.859
