Low demand and high inventory in Chinese manganese ore market

The Chinese domestic manganese ore market has moved on a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.54/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.71/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.38/dmtu, while offers of South African lump ore of 38 percent Mn content are at $4.81/dmtu.
 
The overall trading volume in the Chinese manganese ore market has been on the low side in the past week, though demand for the relatively cheaper South African ore has been better compared to demand for ores of other origins. BHP Billiton and other overseas miners have released their manganese ore quotations for August, keeping them unchanged from July price levels. The price trend in the downstream manganese alloy market has also remained stable. Manganese ore inventories at Chinese ports are still at high levels and downstream buyers are maintaining a wait-and-see stance for now. Overall, it is thought that China's domestic manganese ore market may remain on a stable trend in the coming week.