Chinese domestic manganese ore prices have followed a downward trend during past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.62/dmtu (RMB 47.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.62/mtu (RMB 47.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.48/dmtu (RMB 46.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.23/dmtu (RMB 37.5/dmtu).
Overall trading activity in the Chinese manganese ore market has fallen back to weak levels, while prices have softened, influenced by the recent decreases in demand and the declines in downstream manganese alloy prices. Meanwhile, supply volumes and market inventories at ports have increased a little, which has also exerted pressure on manganese ore prices. As for the week ahead, since the support from foreign manganese ore prices is still strong, it is believed that manganese ore prices may indicate minor fluctuations, with just some slight downticks possible.
$1 = RMB 7.173
