Chinese domestic manganese ore prices have either moved sideways or down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.06/dmtu (RMB 36/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.78/dmtu (RMB 34/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.92/dmtu (RMB 35/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.57/dmtu (RMB 32.5/dmtu).
Since the demand side has not been willing to accept the high prices after last week’s increases, many traders have chosen to reduce their manganese ore quoted prices slightly in order to close more deals, while others have kept their prices stable due to the off-season and the approach of the long holiday. Supply has declined as well as inventory levels at ports, providing some support for manganese ore prices. As for the week ahead, it is believed that manganese ore prices may continue to move sideways or down slightly, as downstream buyers prepare for the holiday.
$1 = RMB 7.112