Chinese domestic manganese ore prices have continued their stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.70/dmtu (RMB 53/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.41/dmtu (RMB 51/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.41/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.69/dmtu (RMB 46/dmtu). ($1 = RMB 6.88)
Overall trading activity in the Chinese manganese ore market has been at low levels in the past seven days. The downstream manganese alloy market has indicated a upward trend, which provides strong support for manganese ore prices. Most traders have not increased their quotations yet since they are seeking to conclude sales as the end of the month approaches. As for the week ahead, it is believed that manganese ore prices in China may follow a mostly stable trend, with some upticks also possible.