Chinese domestic manganese ore prices have indicated a stable trend during the past week, though with some slight downticks also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.32/dmtu (RMB 41.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.94/dmtu (RMB 39/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.94/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.56/dmtu (RMB 36.5/dmtu).
Overall trading activity in the domestic manganese ore market in China has been at a low level, since the downstream manganese alloy market has been impacted by production restrictions in certain areas. Inventory levels at ports are still high, which exerts some downward pressure on manganese ore prices. Overseas suppliers’ quoted prices have softened slightly. As for the week ahead, considering the high market inventory and the weakness of the demand side, it is believed that manganese ore prices may continue a mostly stable trend, with some further slight decreases also seen.
$1 = RMB 6.564