Chinese domestic manganese ore prices have followed a mostly stable trend in the past week, though with slight declines seen in prices of certain products. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.39/dmtu (RMB 35.5 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.08/dmtu (RMB 33.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.01/dmtu (RMB 33/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.08/dmtu (RMB 33.5/dmtu). ($1 = RMB 6.592)
Overall trading activity in the Chinese manganese ore market has been weak since downstream alloy producers have reduced their production volumes. Overseas suppliers’ manganese ore quotations have increased slightly, but, due to the weakness of demand, prices of some manganese ore products have moved down by a small margin. As for the week ahead, amid the weakness of the demand side but also the ongoing strong support from the cost side, it is believed that manganese ore prices may move down just by a small margin.