While quotations in the Chinese manganese ore market have generally remained stable, there has been a slight weakening in actual transaction prices. Meanwhile, a wait-and-see atmosphere prevails in the market. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.36-6.52/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 $5.81-5.96/dmtu.
Demand in China's manganese ore market is still slack and the trading volume remains at a low level. Foreign suppliers have started to reduce their supply volumes and so inventory levels at Chinese ports have fallen as well. The downtrend in the domestic manganese alloy market has contributed to the slackness of demand for manganese ore and has caused traders to hold a negative view of the prospects for the future trend of the manganese ore market. However, in a bid to increase their sales volumes, some traders have reduced their prices slightly in actual deals. Given the current weak state of demand, there is no support for an upward movement in manganese ore prices. For the coming week, it is expected that the trend in the Chinese manganese ore market will vary between stability and a slight softness.