The Chinese domestic manganese ore market has mostly moved on an upward trend again during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $11.52/dmtu (RMB 78/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $11.08/dmtu (RMB 75/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $10.34/dmtu (RMB 70/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.68/dmtu (RMB 52/dmtu). ($1 = RMB 6.77)
Trading activity has remained weak in the Chinese manganese ore market in the past seven days, while supply has also been on the low side. Overseas miners’ quotations provide strong support for prices in the Chinese market. Downstream manganese alloy prices have maintained their strong upward trend. As for the coming week, it is believed that manganese ore prices in China will move up further but by smaller margins.