The Chinese domestic manganese ore market has remained stable at high price levels during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.64/dmtu (RMB 71/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.19/dmtu (RMB 68/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.45/dmtu (RMB 63/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.80/dmtu (RMB 52/dmtu). ($1 = RMB 6.67)
Overall trading activity in the Chinese manganese ore market has remained slack during the past seven days, impacted by shortages on the supply side. Both foreign suppliers and domestic traders have been controlling the supply volume, contributing to the firmness of prices. However, given the current high prices of manganese ore, it is believed that overseas suppliers may increase production volumes and that supply volumes to China may increase after a few months. Downstream manganese alloy producers are mostly maintaining a wait-and-see stance as regards manganese ore purchases during this high-cost period. It is expected that manganese ore prices in China will remain at their current high levels in the coming week.