Chinese domestic manganese ore prices have softened slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.83/dmtu (RMB 46.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.40/dmtu (RMB 44/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.33/dmtu (RMB 43/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.18/dmtu (RMB 35/dmtu).
Overall trading activity in the domestic manganese ore market has increased slightly but is still considered to be weak. Downstream manganese alloy producers are trying to pull down manganese ore prices since their profits are on the low side. However, the support from the quotations of overseas manganese ore producers is still strong. As for the week ahead, considering that supply has declined lately, it is believed that manganese ore prices may resume a stable trend again.
$1 = RMB 6.916