Chinese domestic manganese ore prices have decreased during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.08/dmtu (RMB 54.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.86/dmtu (RMB 53 /dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.56/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.63/dmtu (RMB 38/dmtu).
Overall trading activity in the domestic manganese ore market has been weak as downstream manganese alloy prices have softened. Or supply volumes have recently increased, especially for Australian lumps. Steel product prices have lately moved down in both the spot and futures markets, which means less support for manganese ore prices. As for the week ahead, it is believed that manganese ore prices may continue their downward trend though the decrease margins may be smaller.
$1 = RMB 6.745