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 $5.77/dmtu (RMB 41.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.70/mtu (RMB 41 /dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.43/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.73/dmtu (RMB 34/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has been at normal levels in the past seven days. Supply from foreign producers has declined recently and inventory levels at Chinese ports have also decreased, providing support for manganese ore prices. Since the Chinese New Year holiday is approaching, downstream users may exit the market soon. As for the week ahead, it is believed that manganese ore prices may indicate minor fluctuations.
$1 = RMB 7.188