Chinese domestic manganese ore prices have showed an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.10/dmtu (RMB 48/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.43/dmtu (RMB 43.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.43/dmtu (RMB 43.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.47/dmtu (RMB 37/dmtu).
Overall trading activity in the domestic manganese ore market has been at normal levels. A mining accident in Gabon has caused the manganese ore supply volume from the country to drop to almost zero, providing support for ore prices in the Chinese market. Prices of manganese alloys in China are stable. As for the week ahead, lower supply and increases in demand before the Chinese New Year holiday period may provide support for further slight rises in manganese ore prices.
$1 = RMB 6.761 (January 10)