The Chinese domestic manganese ore market has followed a stable trend in the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.09/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.80/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.66/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.95/dmtu (RMB 41/dmtu).
Overall trading activity in the manganese ore market in China has been weak due to the approach of the Chinese New Year holiday. The downstream manganese alloy market has also seen weak trading activity. Certain traders in order to collect more cash before the holiday have been willing to offer discounts. As for the week ahead, it is believed that manganese ore prices in China may continue their stable trend before the Chinese New Year holiday.
$1 = RMB 6.895