Manganese ore prices in China decrease

Tuesday, 06 August 2019 16:37:10 (GMT+3)   |   Shanghai
       

Domestic manganese ore prices in China have softened slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.47/dmtu (RMB 52.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.11/dmtu (RMB 50/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.18/dmtu (RMB 50.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.54/dmtu (RMB 46/dmtu).

Overall trading activity in the Chinese domestic manganese ore market has been weak since during the beginning of August. However, traders believe demand may increase in the coming period since restrictions on downstream manganese alloy production will ease compared to July. The minor downticks seen in manganese ore prices in China have mainly been due to the increased ore inventories at Chinese ports. As for the week ahead, it is believed that manganese ore prices in China may move sideways with some slight decreases also possible, against the backdrop of rising inventories and improving demand. 

$1 = RMB 7.03


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