Chinese manganese ore market moves on rising trend

Tuesday, 21 March 2017 16:22:21 (GMT+3)   |   Shanghai
       

The Chinese domestic manganese ore market has indicated significant increases during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.99/dmtu (RMB 48/dmtu) at China's Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.70/dmtu (RMB 46/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.55/dmtu (RMB 45/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.40/dmtu (RMB 44/dmtu). ($1 = RMB 6.87)
 
Overall trading activity in the Chinese manganese ore market has improved over the past week and is currently at normal levels. Increases in prices of manganese alloys have been the main reason for the rises in manganese ore prices. Meanwhile, ore inventory levels at ports are still at high levels but, since inventories were bought in at high prices, support for manganese ore prices in the market is still strong. It is believed that domestic manganese ore prices may continue to follow an upward trend in the coming week, but with smaller increase margins.

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