Chinese domestic manganese ore prices have followed a slight upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.57/dmtu (RMB 39.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.79/mtu (RMB 41/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.72/dmtu (RMB 40.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.87/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has remained sluggish in the past seven days, while prices have moved up slightly supported by foreign mills’ ore quotations, which have remained strong However, manganese ore prices are still under pressure from weak demand. As for the week ahead, it is believed that manganese ore prices may follow a mostly stable trend.
$1 = RMB 7.086