Chinese domestic manganese ore prices have continued their downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.27/dmtu (RMB 45/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.34/mtu (RMB 45.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.20/dmtu (RMB 44.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.08/dmtu (RMB 36.5/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has been slack in the past seven days, while prices have continued to fall amid the soft trend of the downstream manganese alloy market. Inventory levels at ports are still low but offer little support for prices given the weakness of demand. As for the week ahead, it is believed that manganese ore prices may edge down further by small margins.
$1 = RMB 7.179