Chinese domestic manganese ore prices have followed a stable trend during the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $9.35/dmtu (RMB 64.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.84/dmtu (RMB 61/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.91/dmtu (RMB 61.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.26/dmtu (RMB 57/dmtu).
With trading activity in the Chinese manganese ore market remaining at low levels, despite the stable trend of prices traders have been willing to offer some discounts in order to close deals. Support from overseas suppliers’ manganese ore quotations means that manganese ore prices in China are unlikely to record any sharp decreases. As for the week ahead, considering that the year-end is approaching and that traders may be under pressure from tight liquidity, it is believed that manganese ore prices in China could indicate some minor downticks amid a mostly stable trend.