Chinese domestic manganese ore prices have mostly indicated a 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 $6.50/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.04/dmtu (RMB 39/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.96/dmtu (RMB 38.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.65/dmtu (RMB 36.5/dmtu). ($1 = RMB 6.458)
Since manganese alloy prices for July have not been decided yet, trading activity for manganese ore has been weak. Prices of certain types of manganese ore have edged up due to low inventories at ports. Overseas suppliers’ manganese ore quotations have indicated minor increases, providing strong support for manganese ore prices in the Chinese market, while recent increases in manganese alloy prices have also provided support. Accordingly, as for the week ahead, it is believed that manganese ore prices in China may increase by a small margin.