Chinese domestic manganese ore prices have continued a slightly soft trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.68/dmtu (RMB 46/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.04/mtu (RMB 48.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.83/dmtu (RMB 47/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.32/dmtu (RMB 43.5/dmtu).
Overall trading activity in the domestic manganese ore market has slackened over the past seven days and is currently considered to be weak. The reductions in downstream manganese alloy production volumes constitute the main factor causing manganese ore prices to maintain their slight downtrend. However, support from foreign manganese ore producers’ quoted prices is still strong. As for the week ahead, it is believed that manganese ore prices may just indicate small fluctuations amid weak demand and ongoing support from the cost side.
$1 = RMB 6.885
