Low inventories provide support for Chinese manganese ore market

The Chinese domestic manganese ore market has remained on a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.53/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.69/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.37/dmtu, while offers of South African lump ore of 38 percent Mn content are at $4.80/dmtu.
 
Australia-based BHP Billiton and other overseas miners have kept their manganese ore quotations for China stable for November shipments, contributing to the sideways movement of the Chinese domestic manganese ore market. Some softness still exists in the downstream manganese alloy market in China, negatively influencing domestic demand for manganese ore, which remains on the slack side. However, with inventories of certain manganese ores at low levels, traders continue to keep their prices unchanged for now. It is believed that the Chinese domestic manganese ore market will continue its sideways trend in the coming week.