Chinese domestic manganese ore prices have followed a soft trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $9.04/dmtu (RMB 64.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.11/mtu (RMB 65/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.90/dmtu (RMB 63.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.82/dmtu (RMB 41.5/dmtu).
Overall trading activity in the domestic manganese ore market has been sluggish in the past seven days, while most traders have reduced their prices in order to close more deals and also since downstream manganese alloy prices have decreased both in the spot and futures markets. As for the week ahead, considering the weakness of the demand side, it is believed that manganese ore prices in China will continue to move down.
$1 = RMB 7.133
