Chinese manganese ore prices indicate further slight decreases

Tuesday, 20 August 2019 14:26:46 (GMT+3)   |   Shanghai

The Chinese domestic manganese ore market prices have continued to follow a slightly downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.30/dmtu (RMB 51.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.95/dmtu (RMB 49/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.02/dmtu (RMB 49.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.38/dmtu (RMB 45/dmtu).

Overall trading activity in the Chinese manganese ore market has increased following the recent reductions in prices. The currency fluctuations still have not influenced current spot market prices but are expected to increase the cost of new shipments arriving at the end of August. High inventories at ports and weakness of demand are still the main reasons causing market prices to soften slightly. Downstream demand for manganese ore may increases since there are fewer restrictions on production volumes. As for the week ahead, it is believed that manganese ore prices in China may resume a stable trend, with some slight upticks also possible.

$1 = RMB 7.05

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