Chinese domestic manganese ore prices have softened slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.70/dmtu (RMB 41/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.77/mtu (RMB 41.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.08/dmtu (RMB 36.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.59/dmtu (RMB 33/dmtu).
Overall trading activity in the domestic manganese ore market has been at low levels in the past seven days, with prices moving down slightly amid the weak demand and the soft trend of downstream manganese alloy prices. Although foreign manganese ore producers’ quoted prices continue to support domestic manganese ore prices, most traders have chosen to reduce their quoted prices by small margins in order to close more deals. As for the week ahead, it is believed that manganese ore prices may move sideways or may also down due to the weakness of the demand side.
$1 = RMB 7.187