Chinese domestic manganese ore prices have mostly followed a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.18/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.71/dmtu (RMB 37/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.79/dmtu (RMB 37.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.33/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has improved slightly but is still weak. Downstream manganese alloy market prices have softened a little, but the demand volume for manganese ore has picked up slightly. Traders have mostly been willing to reduce their quoted prices slightly in order to close more deals. As for the week ahead, considering the slight recovery of demand, it is believed that manganese ore prices in China may follow a stable trend, though with some downticks possible.
$1 = RMB 6.477