Chinese domestic manganese ore prices have either moved sideways or fallen slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.67/dmtu (RMB 49/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.28/dmtu (RMB 46.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.04/dmtu (RMB 45/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.26/dmtu (RMB 40/dmtu).
Overall trading activity in the Chinese manganese ore market has been slack. Overseas suppliers’ manganese ore quotations have showed a stable trend, supporting domestic manganese ore prices at ports. Downstream alloy market prices have shown a downward trend, but demand volumes for manganese ore have increased a little. As for the week ahead, considering the support from overseas suppliers but the weakness of downstream alloy market prices, it is believed that manganese ore prices may soften slightly.
$1 = RMB 6.390