Chinese domestic manganese ore prices have continued to move sideways or down slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.06/dmtu (RMB 36/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.64/dmtu (RMB 33/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.85/dmtu (RMB 34.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.22/dmtu (RMB 30/dmtu).
Overall trading activity in the manganese ore market in China has remained weak. Downstream manganese alloy prices have indicated minor decreases, while manganese alloy production volumes have also decreased, resulting in lower demand for manganese ore. Manganese ore supply volumes are at normal levels and traders have been willing to slightly decrease their quoted prices in order to close more deals approaching the end of the year. As for the week ahead, it is believed that manganese ore prices may continue their sideways and slightly downward movement.
$1 = RMB 7.117