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 $5.43/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.88/dmtu (RMB 35/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.29/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.39/dmtu (RMB 31.5 /dmtu).
Overall trading activity in the domestic manganese ore market has been weak since most downstream and traders have been on holiday. Supply volumes have been at normal levels and inventories at ports have increased slightly, which exerts pressure on manganese ore prices. As for the week ahead, as traders may seek to close more deals after the holiday period, it is believed that manganese ore prices may move sideways or indicate some slight downticks also. Demand may also start to recover a little.
$1 = RMB 7.178
