The Chinese manganese ore market has been mainly stable in the past week, though some slight downward movements have been observed for certain grades. Meanwhile, inventory levels have declined a little. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.35-6.5/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.51/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.11/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.18/dmtu.
Slack downstream demand continues to put pressure on the Chinese manganese ore market. The most recent prices issued by Australian miner BHP Billiton provided some support for the domestic manganese ore market, though Chinese steel mills' reduced purchase prices for manganese alloys have contributed to downward pressure on the market. In addition, manganese ore inventory levels are low at the ports, while purchase activity for manganese ore in the domestic market is also on the low side.
For the coming period, it is difficult to predict the trend of China's manganese ore market. Players believe the market could maintain its stability in the coming seven days, but that it could also see a significant decrease.