Chinese domestic manganese ore prices have decreased further during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.62/dmtu (RMB 58/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.32/dmtu (RMB 56 /dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.02/dmtu (RMB 54/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.80/dmtu (RMB 39/dmtu).
Overall trading activity in the domestic manganese ore market in China has been weak due to the off-season amid reduced manganese alloy production. Manganese ore suppliers have slightly reduced their quoted prices and supply shipments have increased a little, causing most traders to decrease their prices in order to reduce their stock levels. As for the week ahead, considering the weakness of the demand side, it is believed that manganese ore prices may indicate a slight softening.
$1 = RMB 6.729