The Chinese domestic
manganese ore market has moved on a slight downtrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.19/dmtu (RMB 50/dmtu) at
China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.05/dmtu (RMB 49/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.47/dmtu (RMB 45/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.47/dmtu (RMB 38/dmtu). ($1 = RMB 6.95)
In the Chinese
manganese ore market, inventories at ports are still at high levels, while overall trading activity is sluggish, also due to the influence of the ongoing soft trend of manganese alloy prices. Downticks in
manganese ore quotations from overseas miners have contributed to the declining trend of domestic
manganese ore prices. Nevertheless, this declining movement in ore prices has slowed down in the past week as compared to the previous week. As for the coming week, it is believed that there is less room left for further decreases in
manganese ore prices and so prices may moved sideways or just soften slightly.