Chinese domestic manganese ore prices have fluctuated by small margins during the past week, first increasing and then softening. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.88/dmtu (RMB 41.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.16/mtu (RMB 43.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.09/dmtu (RMB 43/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.89/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has been sluggish during the past seven days. The support from foreign suppliers’ manganese ore quotations is still strong, but most local traders have in the past few days chosen to reduce their quoted prices in order to close more deals, against the backdrop of weak demand during the off-season for business. As for the week ahead, it is believed that manganese ore prices may just soften slightly.
$1 = RMB 7.060
