Chinese domestic manganese ore prices have mostly remained stable during the past week, with some slight decreases also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.07/dmtu (RMB 36 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.93/mtu (RMB 35/dmtu). Also, at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.93/dmtu (RMB 35/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.79/dmtu (RMB 34/dmtu).
Overall trading activity in the domestic manganese ore market has remained at low levels. Foreign manganese ore producers’ quoted prices have continued to support manganese ore prices in China. But since downstream manganese alloy prices has softened lately, certain manganese ore traders have chosen to reduce their quoted prices by small margins in order to close more deals. As for the week ahead, it is believed that manganese ore prices may continue a stable or slightly soft trend, considering the support from the cost side but also the weakness of demand.
$1 = RMB 7.099