Chinese domestic manganese ore prices have indicated a strong uptrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.26/dmtu (RMB 45/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.12/mtu (RMB 44/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.12/dmtu (RMB 44/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.94/dmtu (RMB 35.5/dmtu).
Overall trading activity in the Chinese manganese ore market has increased and is considered to be at normal levels, while prices have risen strongly on the back of increases in foreign manganese ore producers’ quoted prices as well as increases in downstream manganese alloy prices. As for the week ahead, it is believed that manganese ore prices may increase again but by smaller margins.
$1 = RMB 7.188