Chinese domestic manganese ore prices have mostly indicated a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.35/dmtu (RMB 41/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.04/dmtu (RMB 39/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.04/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.58/dmtu (RMB 36/dmtu).
Overall trading activity in the Chinese manganese ore market has been at very low levels since traders and downstream buyers have not yet fully returned to the market after the long holiday. Manganese ore inventory at Chinese ports has kept increasing, exerting pressure on manganese ore prices. Overseas suppliers’ manganese ore quotations have been stable with some minor upticks, providing support from the cost side. As for the week ahead, it is believed that manganese ore prices may fluctuate slightly on a soft trend, with downstream demand expected to improve slightly though still remaining weak.
$1 = RMB 6.452