Chinese domestic manganese ore prices have indicated a slight upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.42/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.93/dmtu (RMB 35.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.35/dmtu (RMB 38.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.45/dmtu (RMB 32 /dmtu).
Overall trading activity in the manganese ore market has increased and is considered to be at normal levels as the National Day holiday period approaches. Downstream manganese alloy market prices have increased and, since coke price are declining and profit margins are better, alloy producers’ outputs are at high levels and so demand for manganese ore is also performing well. Manganese inventories at ports are at normal levels, but may increase in the coming period, which may exert pressure on manganese ore prices. As for the week ahead, it is believed that manganese ore prices will move sideways or up slightly.
$1 = RMB 7.199