The Chinese domestic manganese ore market has moved on a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.35/dmtu (RMB 65.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.95/dmtu (RMB 63/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.87/dmtu (RMB 62.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $9.16/dmtu (RMB 58/dmtu). ($1 = RMB 6.33)
Trading activity in the Chinese manganese ore market has been sluggish in the past seven days since demand has not fully recovered and inventories at ports are at low levels, with traders unwilling to sell until prices increase. Overseas suppliers' ore quotations have continued to rise, providing strong support for domestic manganese ore prices. It seems certain that domestic manganese ore prices will increase, but more support is also needed from demand. As for the coming week, it is believed that manganese ore prices may be mostly stable, with some upticks also possible.