Chinese domestic manganese ore prices have increased slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.84/dmtu (RMB 42/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.91/mtu (RMB 42.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.35/dmtu (RMB 38.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.59/dmtu (RMB 33/dmtu).
Overall trading activity in the manganese ore market in China has slackened a little in the past seven days - since downstream manganese alloy production volumes have declined - and is currently considered to be on the weak side. While macroeconomic measures have supported raw material prices, the demand side has started to slacken and so support for manganese ore prices may weaken. As for the week ahead, it is believed that manganese ore prices may soften by small margins.
$1 = RMB 7.193
