Chinese domestic manganese ore prices have fluctuated by small margins during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.83/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.83/mtu (RMB 42/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.27/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.65/dmtu (RMB 33.5/dmtu).
Overall trading activity in China’s manganese ore market has increased and is considered to be at normal levels. Downstream manganese alloy production has increased, supporting the demand for manganese ore. Meanwhile, inventories of some types of manganese ore have increased at ports, providing support for manganese ore prices. However, at the end of November, some traders were offering certain discounts in order to close more deals. As for the week ahead, it is believed that manganese ore prices may move up slightly since the demand volume has increased lately.
$1 = RMB 7.200