Chinese domestic manganese ore prices have followed a mostly stable trend during the past week, with some minor decreases seen also. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.07/dmtu (RMB 36 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.93/mtu (RMB 35/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.93/dmtu (RMB 35/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.72/dmtu (RMB 33.5/dmtu).
Overall trading activity in the manganese ore market in China has remained at a low level since downstream manganese alloy production has continued to decline. The support from foreign manganese ore producers is still strong, causing most traders to choose to hold their prices stable. However, due to the increasing inventory levels at ports, some traders have chosen to reduce their quoted prices slightly in order to close more deals. As for the week ahead, it is believed that manganese ore prices will continue to be mostly stable, with some small decreases too, amid support from the cost side but also the continuing weakness of demand.
$1 = RMB 7.094
