The Chinese domestic manganese ore market has mostly indicated a slight uptrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.14/dmtu (RMB 55/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.7/dmtu (RMB 52/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.56/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.7/dmtu (RMB 45/dmtu).
Trading activity in the Chinese manganese ore market has improved in the past week and is now at good levels. The strong performance of the downstream manganese alloy market has contributed to the increased demand for manganese ore. At the same time, however, some recent decreases in raw material futures prices have resulted in a somewhat more cautious mood among traders in the manganese ore market. It is thought that manganese ore prices in China may move sideways in the week ahead.
$1 = RMB 6.75