The Chinese domestic manganese ore market has mostly followed a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.98/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.77/dmtu (RMB 40.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.62/dmtu (RMB 39.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.77/dmtu (RMB 40.5/dmtu).
Overall trading activity in the Chinese manganese ore market has improved slightly in the past seven days but is still at low levels since downstream manganese alloy prices have been moving on a soft trend in the given period. The influence of the coronavirus has been reduced especially as regards transportation part and so inventory levels at ports have continued to decline. However, traders have mostly been focusing on sales, which places some pressure on manganese ore prices. As for the week ahead, it is believed that manganese ore prices in China may indicate further slight decreases.
$1 = RMB 7.023