The Chinese domestic manganese ore market prices have followed a downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.20/dmtu (RMB 51/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.91/dmtu (RMB 49/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.77/dmtu (RMB 48/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.21/dmtu (RMB 44/dmtu).
Overall trading activity in the Chinese manganese ore market has been at low levels in the past week, and this has been the main factor contributing to the decreasing trend of prices. Downstream alloy prices have been stable, though with some upticks also which have given some support to manganese ore prices. However, most traders have chosen to reduce prices in order to close more deals. As for the week ahead, it is believed that manganese ore prices in China may resume a mostly stable trend.
$1 = RMB 7.088