Chinese domestic manganese ore prices have softened slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.55/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.27/dmtu (RMB 37/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.20/dmtu (RMB 36.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.41/dmtu (RMB 38/dmtu).
Overall trading activity in the Chinese manganese ore market has been at low levels. While foreign suppliers’ quoted prices for January are stable, rising manganese ore inventories at Chinese ports have exerted downward pressure on domestic market prices. Meanwhile, most traders are more willing to offer certain discount in order to close more deals as the end of the year approaches. Downstream manganese alloy prices have just indicated slight fluctuations. As for the week ahead, considering the offseason and high inventory levels, it is believed that manganese ore prices in China will mostly continue their slight downward movement.
$1 = RMB 7.022