Chinese domestic manganese ore prices have mostly followed a 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 $5.84/mtu (RMB 41.5/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 manganese ore market has improved slightly and is at normal levels as the National Day holiday approaches. Some traders have increased their quoted prices a little, but most manganese ore prices have been kept at unchanged levels in order to close more deals. Support from the cost side is still strong, but trading activity may decrease since most downstream buyers have now finished replenishing their stocks. As for the week ahead, it is believed that manganese ore prices may move sideways or down slightly.
$1 = RMB 7.106