Chinese domestic manganese ore prices have continued their mostly stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.63/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.77/mtu (RMB 41/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.63/dmtu (RMB 40/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.86/dmtu (RMB 34.5/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has been at normal levels, while more prices have moved sideways though some traders slightly reduced their quoted prices in order to close more deals ahead of the National Day holiday. Support from the cost side is still strong and continues to support prices. As for the week ahead, it is believed that manganese ore prices may follow a stable trend.
$1 = RMB 7.106