China's manganese ore market has continued to move on an upward trend during the past week. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $6.93/dmtu at China's Tianjin port, while offers of South African origin lump ore of 44 percent Mn content are at $6.68/dmtu. Also at Tianjin port, quotations for 38 percent grade Mn ore from Australia are in the range of $6.68/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.37/dmtu.
In the Chinese manganese ore market, inventory in the north of the country is tighter than in the south. Meanwhile, domestic manganese ore prices have received strong support from quotations for foreign ore supplies and also from the high production volumes of manganese alloys in the north. However, according to market observers, the room for further upward price movement is quite limited. In addition, it is reported that Australian miner BHP Billiton may start to issue its price quotation announcements on a weekly basis. If this happens, the market may see more fluctuations and greater risks for traders.