The Chinese domestic manganese ore market has followed an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.66/dmtu (RMB 67.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.27/dmtu (RMB 65/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $10.19/dmtu (RMB 64.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $9.79/dmtu (RMB 62/dmtu). ($1 = RMB 6.33)
Trading activity in the Chinese manganese ore market has slackened following the increases seen in prices, which have been supported by overseas suppliers' quotations. At the same time, the slight reduction in downstream manganese alloy prices has also contributed to the slackening of trading activity for manganese ore. Amid current high costs and low demand, manganese ore prices in China are unlikely to indicate any sharp movement. As for the coming week, it is believed that manganese ore prices in the Chinese market may move on a mostly stable trend.