Chinese domestic manganese ore prices have continued their soft trend during the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.59/dmtu (RMB 38/dmtu) at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.96/mtu (RMB 40.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.59/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.93/dmtu (RMB 33.5/dmtu).
Overall trading activity in the domestic manganese ore market has remained sluggish due to the off-season, while prices have moved down further against the backdrop of the ongoing decreases in downstream manganese alloy prices. Meanwhile, ore stock levels at ports have showed an upward tendency, which also exerts downward pressure on manganese ore prices. As for the week ahead, considering the weakness of the demand side and the high inventory level at ports, it is believed that manganese ore prices may follow a slightly soft trend.
$1 = RMB 6.792
