Chinese domestic manganese ore prices have mostly moved sideways during the past week, with some small decreases also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.42/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.86/dmtu (RMB 35/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.28/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.38/dmtu (RMB 31.5 /dmtu).
Overall trading activity for manganese ore in China has slackened a little and is considered to be at low levels. The downstream manganese alloy market has moved down by small margins and so alloy producers have been exerting downward pressure on manganese ore prices. However, since cost-side support is still strong, most traders have kept their prices stable and only certain traders have chosen to reduce their quoted prices slightly in order to close more deals. As for the week ahead, with support from the cost side still strong while the demand side may maintain a wait-and-see stance, it is believed that manganese ore prices may follow a mostly stable trend with some minor declines possible.
$1 = RMB 7.199