Chinese domestic manganese ore prices have indicated a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.47/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.17/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.09/dmtu (RMB 39.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.63/dmtu (RMB 36.5/dmtu). ($1 = RMB 6.488)
Overall trading activity in the Chinese manganese ore market has been weak in the past seven days due to the restrictions on production volumes of manganese alloys in northern China. Overseas suppliers’ manganese ore quotations have increased slightly and downstream manganese alloy prices are still stable, providing support for manganese ore prices. Most traders are willing to offer discounts in order to close more deals since before the Chinese New Year holiday. As for the week ahead, against the backdrop of weak demand and the ongoing strength of support from the cost side, it is believed that manganese ore prices in China may follow a stable trend, with slight downticks possible.