Chinese domestic manganese ore prices have either remained stable or softened slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.48/dmtu (RMB 39.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.00/dmtu (RMB 36/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.27/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.37/dmtu (RMB 31.5 /dmtu).
Overall trading activity in the domestic manganese ore market has been slack since downstream buyers are mostly maintaining a wait-and-see stance during the off-season period. Supply has risen slightly, which exerts some pressure on manganese ore prices. Meanwhile, at the end of June, some traders were willing to cut their quoted prices slightly in order to close more deals. As for the week ahead, considering support from the cost side is still strong, there is not much space for further decreases and it is believed that manganese ore prices may resume a mostly stable trend again.
$1 = RMB 7.205