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 $8.94/dmtu (RMB 60/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.49/dmtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.64/dmtu (RMB 58/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.20/dmtu (RMB 55/dmtu).
Overall trading activity in the Chinese manganese ore market has been at low levels in the past seven days. Downstream alloy purchase prices are expected to increase compared to last month’s levels, which would provide strong support for manganese ore prices. Meanwhile, overseas suppliers’ ore quotations have been stable or indicated slight increases, and this also provides support for manganese ore prices in China. As for the week ahead, it is believed that manganese ore prices may move sideways, with some slight upticks also possible.