Manganese ore inventories still at high levels at Chinese ports

China's domestic manganese ore market has trended sideways during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.77-7.01/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.18/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are standing at $6.36/dmtu, while offers of South African lump ore of 38 percent Mn content are at $5.63/dmtu.
 
All overseas miners have followed the example of BHP Billiton and Consolidated Minerals Ltd (CML) and kept their manganese ore quotations stable for January delivery. High inventory levels at Chinese ports are still considered to constitute the main challenge for the domestic manganese ore market. However, supply volumes are expected to decrease in January and this may provide support for the market. Meanwhile, the domestic manganese alloy market has continued its stable trend, while alloy production volumes are on the low side. Overall, China's domestic  manganese ore market is expected to continue its stable trend during the last week of the year.