The Chinese domestic manganese ore market prices have showed a mostly stable trend over the past week, though prices of certain types have moved up slightly.
The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $9.68/dmtu (RMB 67/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.25/dmtu (RMB 64/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.10/dmtu (RMB 63/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.38/dmtu (RMB 58/dmtu).
In the given week, overall trading activity in the local Chinese manganese ore market has increased and reached to normal levels. Recently, manganese ore supply volume and inventory levels in Chinese ports have reduced, providing strong support to manganese ore market prices. As for the week ahead, the downstream demand may increase further, while price inquiries from foreign mills are expected to continue supporting prices. Therefore, it is believed that manganese ore prices in China will mostly follow a stable trend with a potential to move up.
$1 = RMB 6.92