Chinese domestic manganese ore prices have continued to soften slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.45/dmtu (RMB 36.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.15/dmtu (RMB 34.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.15/dmtu (RMB 34.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.30/dmtu (RMB 35.5/dmtu). ($1 = RMB 6.699)
Overall trading activity in the Chinese manganese ore market has been at normal levels in the past week. Overseas suppliers’ manganese ore quotations have mostly maintained a stable trend but, since demand has shown some weakness, the majority of traders in China have been willing to reduce their quoted prices in order to close more deals. As for the week ahead, considering most traders hold high-priced inventories, it is believed that manganese ore prices in China may resume a mostly stable trend, though some slight downticks may be possible.