The Chinese domestic manganese ore prices have indicated a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.86/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.64/dmtu (RMB 38.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.35/dmtu (RMB 36.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.64/dmtu (RMB 38.5/dmtu).
Chinese manganese ore prices in ports have indicated a stable trend during the past week. Overall trading activity has decreased and been at a weak level. Downstream alloy prices have slightly increased but the increase rate is not as much as expected. Support from cost side is still strong but the trading activity still in weak. As for the week ahead, considering the approaching national holiday, traders and downstream alloy producers may increase their inventories. Therefore, it is believed that manganese ore prices may follow a stable trend with slight upticks.
$1 = RMB 6.822