Low demand and rising inventory in local Chinese manganese ore market

The Chinese domestic manganese ore market has remained stable 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 domestic manganese ore market is at low levels, while demand for South African ore is still better than demand for Australian ore, and so it is believed that prices in the market for Australian ore may decline slightly in the near future. Manganese ore inventories at Chinese ports have continued to rise. Demand in the market is expected to remain slack in the coming week, while prices will likely remain stable, perhaps with some slight downticks for Australian lump ore.