Chinese domestic manganese ore prices have followed a slightly soft trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.74/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.26/mtu (RMB 42.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.89/dmtu (RMB 40/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.30/dmtu (RMB 36/dmtu).
Overall trading activity in the Chinese manganese ore market has been sluggish due to the off-season. Downstream manganese alloy market prices have lately followed a downward trend, causing manganese ore traders to follow suit and cut their prices. Meanwhile, support from the cost side is also weakening. As for the week ahead, considering the weakness of the demand side, it is believed that manganese ore prices may indicate further slight downticks.
$1 = RMB 6.792
