The Chinese domestic manganese ore market has mainly moved on a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.19/dmtu (RMB 64/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.87/dmtu (RMB 62/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.55/dmtu (RMB 60/dmtu), while offers of South African lump ore of 38 percent Mn content are at $9.08dmtu (RMB 57/dmtu). ($1 = RMB 6.28)
Overall trading activity in the Chinese manganese ore market has weakened further ahead of the Chinese New Year holiday (February 15-21), while traders have been seeking to conclude more deals and bring in cash, which is the main reason for the slight reduction in market prices. Overseas suppliers' ore quotations have risen slightly, providing some support for domestic manganese ore prices. As for the coming week, it is believed that domestic manganese ore prices may follow a stable trend since market activity will be almost at a standstill before the holiday.
