Chinese domestic manganese ore prices have continued their downward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.51/dmtu (RMB 46/dmtu) at China’s Tianjin port, while offers of lump ore with 48 percent Mn content are at $6.29/dmtu (RMB 44.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.22/dmtu (RMB 44/dmtu), while offers of South African lump ore with 38 percent Mn content are at $6.22/dmtu (RMB 44/dmtu).
Overall trading activity in the manganese ore market in China has been weak since the downstream manganese alloy market has been following a downward trend. Overseas suppliers’ quoted prices have declined, causing traders to mostly hold a negative view and to be unwilling to increase stock levels. Inventory at ports has fallen slightly but most traders believe that the impact on the supply volume from the coronavirus is quite limited. As for the week ahead, considering that support from both upstream and downstream sides is very weak, it is believed that manganese ore prices in China may indicate a slight downward trend.
$1 = RMB 7.071