The Chinese domestic manganese ore market has moved on an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.33/dmtu (RMB 65.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.94/dmtu (RMB 63/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.86/dmtu (RMB 62.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $9.15/dmtu (RMB 58/dmtu). ($1 = RMB 6.34)
Overall trading activity in the Chinese manganese ore market has been at good levels in the past week. The increases in overseas suppliers' ore quotations have been the main reason for the rises seen domestic manganese ore prices. Both traders and manganese alloy producers have been eager to purchase manganese ore as they believe prices will continue to rise. The downstream manganese alloy market has mostly moved sideways. As for the coming week, it is believed that domestic manganese ore prices may move mostly sideways, with some increases also possible.