Chinese domestic manganese ore prices have continued their upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.42/dmtu (RMB 46/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.56/mtu (RMB 47/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.56/dmtu (RMB 47/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.23/dmtu (RMB 37.5/dmtu).
Overall trading activity in the domestic manganese ore market has decreased and is currently sluggish due to the proximity of the Chinese New Year holiday. Nevertheless, the mood among traders is mostly positive as foreign manganese ore producers have raised their quoted prices, while significant decreases in supply volumes have continued to increase the support for manganese ore prices. Meanwhile, downstream manganese alloy prices have also continued to rise. As for the week ahead, it is believed that manganese ore prices may indicate further upticks.
$1 = RMB 7.170
