Chinese domestic manganese ore prices have followed a mostly stable trend during the past week, though with some minor upticks also seen. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.96/dmtu (RMB 41.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.18/mtu (RMB 43/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.18/dmtu (RMB 43/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.24/dmtu (RMB 36.5/dmtu).
Overall trading activity in the manganese ore market in China has been sluggish in the past week due to the approach of the Chinese New Year holiday. Downstream manganese alloy prices have just fluctuated by small margins, providing some support for manganese ore prices. As for the week ahead, it is believed that manganese ore prices may follow a mostly stable trend amid slack pre-holiday demand.
$1 = RMB 6.961