Chinese domestic manganese ore prices have continued their decreasing trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.41/dmtu (RMB 60/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.55/mtu (RMB 61/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.41/dmtu (RMB 60/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.61/dmtu (RMB 40/dmtu).
Overall trading activity in the domestic manganese ore market has been at low levels due to the off-season, while prices have continued to decline, also under pressure from lower downstream manganese alloy prices. Most traders have willing to reduce their quoted prices for manganese ore in order to close more deals. As for the week ahead, it is believed that manganese ore prices in China will continue their soft trend.
$1 = RMB 7.136