Chinese domestic manganese ore prices have either remained stable or declined 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 $4.71/dmtu (RMB 33.5/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 $4.29/dmtu (RMB 30.5/dmtu).
Overall trading activity in the Chinese manganese market has been sluggish in the past seven days. Overseas manganese ore suppliers’ quoted prices have remained stable, which provides support for manganese ore prices. However, as the end of the year is approaching, most traders have been willing to reduce their quoted prices slightly in order to close more deals. The downstream manganese alloy market has been indicating a soft trend. Meanwhile, manganese ore supply volumes and inventory levels at ports are at normal levels. As for the week ahead, it is believed that manganese ore prices may continue a stable trend with some downticks against the backdrop of the off-season, though support from the cost side still exists.
$1 = RMB 7.113