Slack activity and high inventories in Chinese manganese ore market

The Chinese domestic manganese ore market has followed a stable trend during the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.28/dmtu at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.53/dmtu. Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.20/dmtu, while offers of South African lump ore of 38 percent Mn content are at $4.72/dmtu.
 
Overall trading activity in the Chinese manganese ore market has remained slack during the past week, while pressure from inventory is still high. Demand for ore at northern Chinese ports is somewhat higher compared to demand at southern ports. With prices already at low levels, the room for further decreases in prices is quite limited. Traders are only purchasing ore in line with orders received. As for the coming week, it is believed that the stable trend in the Chinese domestic manganese ore market will continue.