The manganese ore market in China has witnessed overall slack trading activity in the past week. Meanwhile, prices have generally remained unchanged in the past seven days, though a slight softening tendency is still witnessed. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.34-6.50/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.50-6.67/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $5.71-5.87/dmtu, while offers of South African lump ore of 38 percent Mn content are at $5.71-5.87/dmtu.
In the past week, manganese ore trading activity at southern Chinese ports, which was very bad previously, has improved somewhat, with an obvious amelioration seen in both number of inquiries and trading volume. Nevertheless, trading activity at southern ports still remains at relatively low levels. On the other hand, there has been no improvement in trading at northern ports, where inventory has remained fairly high. According to some traders at Tianjing port, lately silicomanganese producers in China have been maintaining a cautious approach; they are not inclined to purchase raw material if they think their stocks will be sufficient to sustain production until China's Spring Festival. A few mills have been purchasing manganese ore just to replenish their stocks, while the volumes involved have been on the small side. At present, manganese ore inventories at Chinese ports remain at high levels, indicating just a slow, gradual increase. Meanwhile, most traders state that they have no confidence in the future market trend and that as a result they are not willing to purchase right now.
It is expected that the Chinese manganese ore market will be characterized by a slightly weak tendency in the coming period.