Chinese domestic manganese ore prices have followed a slightly upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.48/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.17/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.09/dmtu (RMB 39.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.63/dmtu (RMB 36.5/dmtu).
Overall trading activity in the Chinese manganese ore market has increased and is currently at normal levels. Foreign suppliers’ manganese ore quotations have indicated an upward trend, which gives strong support to manganese ore prices. Meanwhile, downstream manganese alloy prices have also increased, causing demand for manganese ore to rise further. As for the week ahead, given that support from the cost side and the demand side is still strong, it is believed that manganese ore prices in China may continue to increase.
$1 = RMB 6.482