The Chinese domestic manganese ore market has indicated a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.81/dmtu (RMB 54/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.53/dmtu (RMB 52/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.38/dmtu (RMB 51/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.73/dmtu (RMB 46.5/dmtu). ($1 = RMB 6.91)
In the past seven days, overall activity has been at normal levels in the Chinese manganese ore market. Inventory levels at ports have risen slightly. However, since costs are still at high levels, traders are not willing to reduce their quotations. As for the week ahead, with no significant changes anticipated in downstream manganese alloy purchase prices for June which are to be announced soon, it is believed that manganese ore prices in China may follow a mostly stable trend.