Chinese domestic manganese ore prices have continued to move down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.60/dmtu (RMB 37.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.30/dmtu (RMB 35.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.30/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.45/dmtu (RMB 36.5/dmtu).
Overall trading activity in the manganese ore market in China has been sluggish due to the weak trend of ore prices. New shipments arriving in China have mostly been bought at lower price levels, which gives traders space for further reductions and so they have mostly been willing to offer small discounts in order to close more deals. As for the week ahead, considering the high inventory levels at ports, it is believed that manganese ore prices may indicate further minor decreases but by smaller margins.
$1 = RMB 6.693