Chinese domestic manganese ore prices have shown a mostly stable trend during the past week, with some slight downticks also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.47/dmtu (RMB 53/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.24/dmtu (RMB 51/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.33/dmtu (RMB52/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.33/dmtu (RMB 52/dmtu).
Overall trading activity in the domestic manganese ore market has been at low levels since downstream manganese alloy purchase prices have not settled down yet. Overseas suppliers’ ore quotations are down slightly and raw material futures prices have decreased as well, which has led domestic traders to slightly reduce some prices. Traders are still focusing on sales and are not willing to increase inventory levels since the risks are still considered to be high. As for the week ahead, since the supply volumes from certain overseas regions have continued to decrease due to the impact of the coronavirus, it is believed that support still exists for prices and, accordingly, domestic manganese ore prices may follow a mostly stable trend, with some increases possible.
$1 = RMB 7.094