Chinese domestic manganese ore prices have maintained their downward trend during the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.21/dmtu (RMB 37.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.28/mtu (RMB 38/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.14/dmtu (RMB 37/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.58/dmtu (RMB 33/dmtu).
Overall trading activity in the domestic manganese ore market has been sluggish during the past week, contributing to the ongoing soft trend of prices, which have also been influenced by the weakness of downstream manganese alloy prices and by the rising levels of manganese ore supplies and of manganese ore inventories at Chinese ports. As for the week ahead, it is believed that manganese ore prices may just indicate small fluctuations.
$1 = RMB 7.203
