The Chinese domestic manganese ore market has moved on a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $12.11/dmtu (RMB 82/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $11.67/dmtu (RMB 79/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $10.78/dmtu (RMB 73/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.57/dmtu (RMB 58/dmtu). ($1 = RMB 6.77)
Trading activity in the Chinese manganese ore market has been at normal levels. Quotations from overseas suppliers have increased slightly. The downstream manganese alloy market has been moving on an upward trend, providing strong support for manganese ore prices. Meanwhile, inventory levels of manganese ore are still at low levels. It is believed that, with alloy prices continuing to rise, there may be room for increases in manganese ore prices in the week ahead.