Chinese domestic manganese ore prices have showed a mostly stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.14/dmtu (RMB 48/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.47/dmtu (RMB 43.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.62/dmtu (RMB 44.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.50/dmtu (RMB 37/dmtu).
Overall trading activity in the market has been at a very low level due to the approach of the Chinese New Year holiday. The mining accident in Gabon continues to influence supply volumes and may do so for another four weeks, according to market sources. Domestic buyers and traders have mostly left the market ahead of the holiday. As for the week ahead, it is believed that manganese ore prices will follow a stable trend.
$1 = RMB 6.722