The Chinese domestic manganese ore market prices have continued to decrease slightly during past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.50/dmtu (RMB 53.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.29/dmtu (RMB 52/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.15/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.29/dmtu (RMB 52/dmtu).
In the given period, overall trading activity in Chinese manganese ore market has increased slightly and has been at normal levels. Upstream foreign mills’ quoted prices have showed to a mostly stable trend, but traders have continued to hold a negative view and have been willing to reduce their prices in order to close more deals. Downstream alloy market has showed a relatively strong performance, which gives certain support to manganese ore prices. However, supply volume has also increased recently. As for the week ahead, it is believed that manganese ore market prices are likely to move sideways, with a slightly downward trend.
$1 = RMB 7.129