The Chinese domestic manganese ore market has mostly moved sideways in the past week, with some slight downticks also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.85/dmtu (RMB 54/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.56/dmtu (RMB 52/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.41/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.76/dmtu
Overall trading activity has been at normal levels in the past seven days in the Chinese manganese ore market, where the majority of traders are unwilling to reduce their prices since costs are still high. However, considering that inventory at ports has remained at high levels and that downstream manganese alloy prices are still characterized by a soft trend, some traders have chosen to reduce their prices slightly in order to close more deals. As for the week ahead, it is believed that manganese ore prices in China will again be mainly stable, with some minor downward corrections also possible.
$1 = RMB 6.88