Chinese domestic manganese ore prices have mostly indicated a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.75/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.60/dmtu (RMB 38/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.30/dmtu (RMB 36/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.67/dmtu (RMB 38.5/dmtu).
Overall trading activity in the manganese ore market in China has improved a little and is currently at normal levels. Overseas suppliers’ manganese ore prices are down slightly and other raw material prices have also indicated a soft trend, contributing to the slight declines in manganese ore prices in China. Meanwhile, high ore inventory levels at Chinese ports have also exerted some pressure on domestic manganese ore prices. As for the week ahead, considering that support from costs is still strong and that downstream buyers may increase stock levels ahead of the approaching national holiday, it is believed that manganese ore prices may rebound slightly amid some fluctuations.
$1 = RMB 6.787