The Chinese domestic manganese ore prices have indicated an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.96/dmtu (RMB 39/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.73/dmtu (RMB 37.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.50/dmtu (RMB 36/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.27/dmtu (RMB 34.5/dmtu).
Downstream manganese alloy prices have followed a strong upward trend in the past week due to restrictions on production volumes, and manganese ore prices have mostly followed suit. Overseas suppliers’ manganese ore quotations have risen slightly, which has also provided support for manganese ore prices. However, demand for manganese ore has also declined, exerting some downward pressure on manganese ore prices. As for the week ahead, considering the support from downstream alloy prices but also the weakness of trading activity and high inventory levels at Chinese ports, it is believed that manganese ore prices in China may soften slightly.
$1 = RMB 6.543