Chinese domestic manganese ore prices have continued a mostly stable trend in the past week, with some slight upticks also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.30/dmtu (RMB 40.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.91/dmtu (RMB 38/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.84/dmtu (RMB 37.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.60/dmtu (RMB 36/dmtu). ($1 = RMB 6.425)
Overall trading activity has increased in the past seven days due to the increase in downstream manganese alloy prices which has been supported by the rising trend in the overall steel market. However, demand for manganese ore has not increased a lot due to restrictions on production of alloys. Overseas suppliers’ ore quotations have softened slightly, exerting pressure on manganese ore prices in the Chinese market. As for the week ahead, considering the increases in the downstream alloy market, it is believed that manganese ore prices may also indicate increases, though slight ones.