Chinese domestic manganese ore prices have continued their downward trend during the past week, while the decrease margins have been relatively large. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.10/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.52/dmtu (RMB 38/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.45/dmtu (RMB 37.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.72/dmtu (RMB 32.5 /dmtu).
Overall trading activity in the manganese ore market in China has been weak, while prices have declined by significant margins against the backdrop of decreasing prices of manganese alloys and raw materials. Manganese ore traders under pressure from tight liquidity have also been ready to lower prices in order to close more deals. As for the week ahead, it is believed that manganese ore prices may move down further though by smaller margins.
$1 = RMB 6.885