Chinese domestic manganese ore prices have continued to decrease slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.82/dmtu (RMB 60.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.31/dmtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.45/dmtu (RMB 58/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.87/dmtu.
Chinese manganese ore prices have continued to indicate a slight downward trend both before and after the New Year holiday period. Overall trading activity has been at low levels. Traders have mostly been willing to reduce prices in order to attract demand but activity has remained slack due to the off-season. As for the week ahead, with the Chinese New Year holiday drawing closer, downstream demand may increase and so manganese ore prices may start to move sideways or to rise slightly. However, considering that overseas suppliers’ quotations have decreased slightly, the room for upward movement of prices should be limited.