In the past week, the Chinese domestic manganese ore market has mostly followed a stable trend, though with some upticks in prices also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.53/dmtu (RMB 52/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.24/dmtu (RMB 50/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.97/dmtu (RMB 55/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.37dmtu (RMB 44/dmtu).
Overall trading activity in the Chinese manganese ore market is still weak and this is the main factor which prevents most traders from raising their prices. Overseas quotations from foreign miners have increased, while fluctuations in the domestic raw material futures markets have caused most manganese ore traders to maintain a wait-and-see stance. The domestic manganese alloy market has continued to move sideways, with some slight upticks, providing some support for manganese ore prices. As for the coming week, it is thought that the manganese ore market in China may continue its stable trend, with some slight upticks also possible.
$1 = RMB 6.90