Manganese ore prices in China mostly follow a stable trend

Tuesday, 29 January 2019 14:50:54 (GMT+3)   |   Shanghai
       

Chinese domestic manganese ore prices have mostly followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.90/dmtu (RMB 60/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.46/dmtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.61/dmtu (RMB 58/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.01/dmtu (RMB 54/dmtu). ($1 = RMB 6.74)

Overall trading activity in the Chinese manganese ore market has been at low levels in the past week. Manganese alloy producers mostly have sufficient inventories built up for the Chinese New Year holiday period, and so demand in the manganese ore market has continued to slacken. Certain traders have reduced their prices slightly in order to close more deals, but the decrease margins have been limited since prices are already close to cost level. Most traders and downstream users have already exited the market ahead of the holiday. It is believed that manganese ore prices will follow a stable trend in the week ahead. 


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