China's 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 $7.05-7.13/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.29/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.40/dmtu, while offers of South African lump ore of 38 percent Mn content are at $5.75/dmtu.
The supply volumes of the main manganese ore grades have declined and this has provided support for domestic spot prices. After the previous downward adjustments in quotations of overseas miners, market players believe there is little chance that foreign quotations will continue to decline in the remaining months of the year. Meanwhile, demand is still on the sluggish side but is improving. Overall, China's domestic manganese ore market is expected to be mostly stable during the coming week.