Chinese domestic manganese ore prices have indicated a sharp upward trend during the holiday period and over the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.67/dmtu (RMB 55/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.67/mtu (RMB 55/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.67/dmtu (RMB 55/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.00/dmtu (RMB 43/dmtu).
Overall trading activity in the Chinese manganese ore market has become livelier after the holiday. Foreign manganese ore producers’ quoted prices have increased, providing strong support for manganese ore prices. Meanwhile, supply volumes are on the weak side and demand is gaining strength, with these factors also providing strong support for manganese ore prices. As for the week ahead, it is believed that manganese ore prices will continue to increase.
$1 = RMB 7.172
