Chinese domestic manganese ore prices have continued to soften during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.83/dmtu (RMB 63/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.97/mtu (RMB 64/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.83/dmtu (RMB 63/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 Chinese manganese ore market has remained sluggish in the past seven days given the ongoing off-season, causing most traders to decrease their prices in order to conclude more deals. Foreign manganese ore producers have mostly kept their quoted prices stable, while supply has been on the low side, providing some support for prices. As for the week ahead, it is believed that manganese ore prices in China may just indicate minor fluctuations.
$1 = RMB 7.133