Chinese domestic manganese ore prices have followed an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.38/dmtu (RMB 44/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.67/mtu (RMB 46/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.45/dmtu (RMB 44.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.80/dmtu (RMB 40/dmtu).
Overall trading activity in the manganese ore market in China has been at normal levels in the past week. Prices have continued to move up, supported by increases in overseas manganese ore producers’ quoted prices, which have been driven up by higher freight rates, caused by the war in the Middle East. Demand has weakened since prices continue to rise. As for the week ahead, as support from the cost side is still strong, it is believed that manganese ore prices may continue to move up.
$1 = RMB 6.896
