Chinese domestic manganese ore prices have moved down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.72/dmtu (RMB 38.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.50/dmtu (RMB 37/dmtu). Also, at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.20/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.50/dmtu (RMB 37/dmtu). ($1 = RMB 6.730)
Overall trading activity in the manganese ore market in China has been weak since downstream buyers have continued to maintain a wait-and-see stance and to wait for lower prices. Overseas suppliers’ ore quotations have softened by small margins and inventory levels at Chinese ports have continued to increase and are at high levels. As for the week ahead, considering the strong pressure exerted by inventory increases at ports on prices, it is believed that manganese ore prices in China may decline further.