Chinese domestic manganese ore prices have showed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.59/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.10/dmtu (RMB 36.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.31/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.40/dmtu (RMB 31.5 /dmtu).
Overall trading activity in the manganese ore market in China has been weak due to the off-season. Overseas manganese ore suppliers’ quoted prices have mostly remained stable, providing support for manganese ore prices at domestic ports. Since demand is still weak, some traders have been willing to offer discounts in order to close more deals. Supply volumes have increased during the past week, especially for Australian lump, which exerts pressure on manganese ore prices. As for the week ahead, it is believed that manganese ore prices may soften slightly.
$1 = RMB 7.160