Chinese domestic manganese ore prices have mostly moved sideways during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.36/dmtu (RMB 38.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.87/dmtu (RMB 35/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.29/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.39/dmtu (RMB 31.5 /dmtu).
Overall trading activity in the domestic manganese ore market has been at a low level in the past week. Most prices are stable but some traders chose to slightly reduce their quoted prices, or to give certain discounts in order to close more deals in the last days of August. The downstream manganese alloy market has lately moved up slightly, providing some support for manganese ore prices. As for the week ahead, considering that support from the cost side is still strong and that demand may show a recovery during September, it is believed that manganese ore prices may move sideways or up slightly.
$1 = RMB 7.178