Chinese domestic manganese ore prices have followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.40/dmtu (RMB 35.5 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.09/dmtu (RMB 33.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.09/dmtu (RMB 33.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.25/dmtu (RMB 34.5/dmtu).
Downstream manganese alloy prices have showed minor fluctuations in the past week and demand for manganese ore has remained at normal levels, providing some support for manganese ore prices. Manganese ore inventory at Chinese ports is still at high levels and keeps increasing, putting pressure on manganese ore prices. As for the week ahead, traders may be willing to offer lower prices in order to close more deals amid higher inventory levels and the approach of the end of the year. Accordingly, it is believed that manganese ore prices in China may move sideways or soften slightly.
$1 = RMB 6.576