The Chinese domestic manganese ore market has moved on a decreasing trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.65/dmtu (RMB 74/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.34/dmtu (RMB 72/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $10.50/dmtu (RMB 73/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.06/dmtu (RMB 56/dmtu). ($1 = RMB 6.95)
The Chinese manganese ore market has fluctuated on a downward trend in the past seven days mainly due to decreases in quotations from overseas miners, while overall trading activity has remained at low levels amid the current off-season for business. Meanwhile, supply volumes have increased, which exerts downward pressure on ore prices. It is believed that manganese ore prices in China will continue their soft trend in the coming week and that trading activity will be very sluggish due to the approach of the Chinese New Year holiday.