The Chinese domestic manganese ore market has continued to move down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.07/dmtu (RMB 43/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.79/dmtu (RMB 41/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.65/dmtu (RMB 40/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.65/dmtu (RMB 40/dmtu).
Overall trading activity in the Chinese manganese ore market in the past seven days has been slack influenced by the weak trend of the downstream manganese alloy market. Manganese ore inventory levels at ports are at normal levels, which exerts some pressure on market prices. Overseas suppliers’ quoted prices have recently increased slightly but domestic traders have been unwilling to increase their quotations since the demand side has failed to indicate any improvement. As for the week ahead, it is believed that the manganese ore market may continue its slight downtrend.
$1 = RMB 7.080