Chinese domestic manganese ore prices have continued to move down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.55/dmtu (RMB 45/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.25/dmtu (RMB 43/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.96/dmtu (RMB 41/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.87/dmtu (RMB 33.5/dmtu).
Overall trading activity in the domestic manganese ore market has been weak since the downstream manganese alloy market has been showing a weak trend. Supply has risen lately, which exerts pressure on manganese ore prices. Many traders have been unwilling to reduce their prices since their costs are at high levels. As for the week ahead, amid ongoing higher supply and weaker demand side, it is believed that manganese ore prices may move down by a small margin.
$1 = RMB 6.875
