The Chinese domestic manganese ore prices have mostly indicated a stable trend during the past week, though with slight downticks in prices of some ores. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.72/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.57/dmtu (RMB 38/dmtu). Also, at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.21/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.65/dmtu (RMB 38.5/dmtu).
Overall trading activity for manganese ore in China has remained weak despite the approach of the National Day holiday. The downstream manganese alloy market has recently been characterized by a soft trend since traders have mostly been willing to reduce their prices in order to close more deals near the end of the month. Supply of manganese ore has recently increased slightly, exerting some pressure on ore prices. As for the week ahead, it is believed that manganese ore prices in China may follow a mostly stable trend.
$1 = RMB 6.817