Chinese domestic manganese ore prices have continued to move sideways or down slightly during the past seven days. 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 $6.31/mtu (RMB 43/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.95/dmtu (RMB 40.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.43/dmtu (RMB 37/dmtu).
Overall trading activity in the Chinese manganese ore market has been sluggish over the past week amid weak demand during the current off-season. While the support from foreign manganese ore producers’ quoted prices is still strong, some traders have chosen to reduce their quoted prices by small margins in order to close more deals. As for the week ahead, it is believed that manganese ore prices may continue to move sideways or down slightly.
$1 = RMB 6.811
