Chinese domestic manganese ore prices have either moved sideways or softened slightly in the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.23/dmtu (RMB 43.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.01/dmtu (RMB 42/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.73/dmtu (RMB 40/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.87/dmtu (RMB 41/dmtu).
Overall trading activity in the Chinese manganese ore market has decreased and been at low levels in the past seven days. Downstream alloy market prices have moved down slightly and this has exerted some pressure on manganese ore prices. Demand during the past week dropped back to low levels and traders have mostly maintained a wait-and-see stance. As for the week ahead, it is believed that manganese ore prices in China will be mostly stable, with some slight decreases also possible.
$1 = RMB 6.983