The Chinese domestic manganese ore market has continued its movement during the past week, though with smaller increase margins compared to the previous week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $11.09/dmtu (RMB 75/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.78/dmtu (RMB 73/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $10.04/dmtu (RMB 68/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.68/dmtu (RMB 52/dmtu).
Overall trading activity in the Chinese manganese ore market has been on the low side in the past week, though demand has been relatively stronger for Australian ore. Overseas miners have raised their quotations, providing support for manganese ore prices in the Chinese market. Faced with higher costs, buyers in the downstream manganese alloy market may focus more on purchases of ore from Gabon and South Africa in the coming period. It is thought that the domestic manganese ore market will continue its upward movement in the coming week.
$1 = RMB 6.77