Chinese domestic manganese ore 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 $7.04/dmtu (RMB 45/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.88/dmtu (RMB 44/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.41/dmtu (RMB 41/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.47/dmtu (RMB 35/dmtu). ($1 = RMB 6.393)
Overall trading activity in the manganese ore market has remained weak. Downstream alloy market prices have continued their downward trend both in the spot and futures markets, causing manganese ore prices to keep falling. Most alloy producers have plans to reduce production volumes, and so demand for manganese ore has continued to decrease. As for the week ahead, amid increases in futures prices for raw material and steel products, and support from the ore prices of foreign manganese ore producers, it is believed that manganese ore prices in China may indicate minor fluctuations.