Chinese domestic manganese ore prices have moved down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.13/dmtu (RMB 36.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.71/dmtu (RMB 33.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.92/dmtu (RMB 35/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.29/dmtu (RMB 30.5/dmtu).
Overall trading activity in the domestic manganese ore market has slackened and is considered to be weak. Downstream manganese alloy prices have indicated minor decreases and, since raw material prices have continued to rise, production volumes of manganese alloys have decreased, negatively influencing the demand for manganese ore. Ore supply volumes have lately increased especially for Gabon and South African origins, and this has exerted pressure on manganese ore prices. Meanwhile, coming towards the end of the year, most traders have been willing to offer certain discounts and collect more cash in hand. As for the week ahead, it is believed that manganese ore prices may indicate further slight decreases given the weak demand situation.
$1 = RMB 7.113