Chinese domestic manganese ore prices have followed an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.60/dmtu (RMB 49/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.06/dmtu (RMB 45.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.67/dmtu (RMB 43/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.36/dmtu (RMB 41/dmtu).
Overall trading activity for manganese ore in China has been weak. Overseas suppliers’ quoted prices are at high levels, which strongly supports manganese ore prices in the Chinese market. Downstream manganese alloy market prices have also risen due to production restrictions. Lately, demand volumes have risen slightly due to some easing of the production restrictions. Traders have mostly been seeking to keep their prices at high levels because they believe demand may recover soon. As for the week ahead, it is believed that manganese ore prices may rise slightly, with some fluctuations.
$1 = RMB 6.448