Chinese domestic manganese ore prices have followed a mostly stable trend during the past week, though with some minor 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 $5.08/dmtu (RMB 33.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.17/dmtu (RMB 34/dmtu).
Overall trading activity in the Chinese manganese ore market has slackened a little in the past week and is currently at weak levels. Prices in the downstream manganese alloy market have moved down by a small margin slightly, leading to a minor drop in the demand for manganese ore. Inventories of manganese ore at Chinese ports are still at high levels, which exerts some pressure on manganese ore prices. However, the support from the cost side is still strong, which means that the room for reductions in prices is quite limited. As for the week ahead, it is believed that manganese ore prices in China may continue a mostly stable trend with some minor downticks also possible, against the backdrop of weak demand and the ongoing strength of support from the cost side.
$1 = RMB 6.581