Chinese domestic manganese ore prices have softened slightly in the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.52/dmtu (RMB 38.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.37/dmtu (RMB 37.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.09/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.23/dmtu (RMB 36.5/dmtu). ($1 = RMB 6.980)
Overall trading activity in the domestic manganese ore market in China has improved slightly but still remains weak. Overseas suppliers’ manganese ore quotations prices are back on a stable trend, which gives some support to manganese ore prices at Chinese ports. However, market inventory has increased during the past week, and this has been the main factor causing traders to reduce their prices by a small margin. As for the week ahead, since the inventory levels at port may remain at high levels, it is believed that manganese ore prices in China may either move sideways or fall slightly.