The Chinese domestic manganese ore market has followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.81/dmtu (RMB 54/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.53/dmtu (RMB 52/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.38/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.73/dmtu
Overall trading activity in the local Chinese manganese ore market has been at normal levels in the past seven days, providing support for prices, while the ongoing soft trend in the downstream manganese alloy market weakens the support for manganese ore prices. Overseas suppliers’ ore quotations have been mostly stable, with some minor downticks also seen. As for the week ahead, it is believed that manganese ore prices in China may follow a mainly stable trend.
$1 = RMB 6.91