Chinese domestic manganese ore prices have followed a mostly stable trend during the past week, but with some slight reductions seen in prices of some ore grades. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.87/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.38/mtu (RMB 43.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.01/dmtu (RMB 41/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.50/dmtu (RMB 37.5/dmtu).
Overall trading activity in the domestic manganese ore market has been slack in the past seven days since the downstream manganese alloy market has followed a slightly soft trend and demand for manganese ore has continued to decline. Most manganese ore traders have chosen to hold their quoted prices stable since the support from foreign manganese ore producers’ quoted prices is still strong. As for the week ahead, considering the weakness of the demand side but also the strength of the cost side, it is believed that manganese ore prices may continue a mostly stable trend, with some minor fluctuations possible.
$1 = RMB 6.817
