Chinese domestic manganese ore prices have maintained a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.47/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.98/dmtu (RMB 35.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.26/dmtu (RMB 37.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.35/dmtu (RMB 31 /dmtu).
Overall trading activity in the Chinese manganese ore market has been at normal levels in the past week. Downstream manganese alloy market prices have followed an upward trend, providing support for manganese ore prices. Meanwhile, the supply volumes and inventory levels at ports have declined, also providing support for manganese ore prices. As for the week ahead, considering the support from the cost side, it is believed that manganese ore prices may follow a stable or slightly upward trend.
$1 = RMB 7.128