The Chinese domestic manganese ore market has continued to indicate a very strong upward trend over 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).
According to market sources, the supply volume in the local Chinese manganese ore market may continue to decrease in October, depending on buyers’ reflection towards higher prices. Meanwhile, downstream alloy producers are quite cautious about higher manganese ore prices, adopting wait and see stance. Currently, overall trading activity in the market is still at low levels. It is thought that manganese ore prices will continue to increase in the coming week.
$1 = RMB 6.71