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 $5.46/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.97/dmtu (RMB 35.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.25/dmtu (RMB 37.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.34/dmtu (RMB 31 /dmtu).
Overall trading activity in the Chinese manganese ore market has increased after prices softened and is considered to be at normal levels. Downstream manganese alloy prices have edged up and alloy production volumes have also increased, causing demand for manganese ore to increase as well. But some traders have been willing to offer discounts on manganese ore prices in order to close more deals. Supply has fallen slightly. As for the week ahead, considering that support from the cost side is still strong and that demand has improved, it is believed that manganese ore prices may rise by a small margin.
$1 = RMB 7.145