Chinese domestic manganese ore prices have indicated sideways or slightly downward movements during the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.81/dmtu (RMB 39.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.32/mtu (RMB 43/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.96/dmtu (RMB 40.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.37/dmtu (RMB 36.5/dmtu).
Overall trading activity in the Chinese manganese ore market has been sluggish during the past week since downstream manganese alloy production volumes have continued to decline. Support from foreign manganese ore producers’ quoted prices has been weakening lately, leading some traders in China to reduce their spot prices by small margins. As for the week ahead, considering the weakness of the demand side, it is believed that manganese ore prices may indicate a slight softening.
$1 = RMB 6.799
