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 $6.58/dmtu (RMB 43/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.12/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.05/dmtu (RMB 39.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.74/dmtu (RMB 37.5/dmtu).
Overall trading activity in the manganese ore market in China has remained weak. The downstream manganese alloy market has showed a fluctuating trend and, due to electricity policies in certain areas, production volumes of manganese alloys have been at low levels. Overseas suppliers’ manganese ore quotations have increased since international freight costs have risen, which has caused domestic manganese ore prices to follow an upward trend also. As for the week ahead, considering the weakness of the demand side, it is believed that manganese ore prices in China may just indicate slight fluctuations.
$1 = RMB 6.534