The Chinese manganese ore market has mostly moved on a slightly soft trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.28/dmtu (RMB 55/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.98/dmtu (RMB 53/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.98/dmtu (RMB 53/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.93/dmtu (RMB 46/dmtu). ($1 = RMB 6.64)
Overall trading activity has remained weak in the Chinese manganese ore market in the past week, while the slightly soft price trend has been mainly due to decreases in manganese alloy prices. Since overseas suppliers have kept their ore prices for China stable, there will be limited room for further reductions in prices of manganese ore in the Chinese market. It is believed that manganese ore prices in China will move on a stable trend in the week ahead.