The Chinese manganese ore market has continued to maintain an upward trend during the past week. The mainstream quotations of Australian lump ore with 44 percent Mn content currently stand at $7.01/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 $6.76/dmtu, while offers of South African lump ore of 38 percent Mn content are at $6.53/dmtu.
As in the previous week, manganese ore inventory at northern Chinese ports remains tight. Meanwhile, Consolidated Minerals Ltd (CML) and Glencore are expected to raise their quotations for February and support from foreign markets is still strong enough to keep Chinese domestic manganese ore prices at high levels. At the same time, downstream demand for manganese ore in northern
China remains strong. Overall,
China's manganese ore market is expected to move up further in the coming week, though no big increases are anticipated.