Chinese domestic manganese ore prices have continued their declining trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.81/dmtu (RMB 41/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.96/mtu (RMB 42/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.60/dmtu (RMB 39.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.61/dmtu (RMB 32.5/dmtu).
Overall trading activity in the domestic manganese ore market has become weak again since downstream manganese alloy production volumes have indicated a decline. Ore inventories at Chinese ports have increased lately, causing most traders to slightly reduce their quoted prices. As for the week ahead, it is believed that manganese ore prices may indicate a further slight softening.
$1 = RMB 7.051