Chinese domestic manganese ore prices have either moved sideways or softened slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.25/dmtu (RMB 40.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.71/dmtu (RMB 37/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.86/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.32/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has recovered a little but is still weak. Foreign suppliers’ quoted prices are mostly at high levels, which gives strong support for manganese ore prices at Chinese ports. Production restrictions in certain areas have influenced the demand volumes for manganese ore. As for the week ahead, considering the support from the cost side and the slight recovery of demand, it is believed that manganese ore prices in the Chinese market may resume a mostly stable trend.
$1 = RMB 6.484