The Chinese domestic manganese ore market has followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.13/dmtu (RMB 64/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.81/dmtu (RMB 62/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.49/dmtu (RMB 60/dmtu), while offers of South African lump ore of 38 percent Mn content are at $9.02/dmtu (RMB 57/dmtu). ($1 = RMB 6.32)
Overall trading activity in the Chinese manganese ore market has been at very low levels in the past week as the Chinese New Year holiday has drawn closer. Overseas suppliers' ore quotations for March shipments have risen slightly, which will provide support for domestic manganese ore prices after the holiday, while downstream demand is expected to increase when the market reopens. Manganese ore prices in China are foreseen to move on a rising trend when the holiday period is over.