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 $7.85/dmtu (RMB 56/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.99/mtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.85/dmtu (RMB 56/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.12/dmtu (RMB 36.5/dmtu).
Overall trading activity in the Chinese manganese market has remained at low levels. Downstream manganese alloy production volumes have been reduced sharply and so demand for manganese has continued to decline. Meanwhile, manganese ore inventory levels at Chinese ports have increased, also exerting pressure on manganese ore prices. As for the week ahead, considering the weakness of the demand side, it is believed that manganese ore prices may again move down further.
$1 = RMB 7.132