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 $6.41/dmtu (RMB 41.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.18/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.10/dmtu (RMB 39.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.64/dmtu (RMB 36.5/dmtu).
Overall trading activity in the Chinese manganese ore has been at a low level due to the soft trend of downstream manganese alloy prices and the approach of the Chinese New Year holiday. Overseas suppliers’ quoted prices still provide some support for manganese ore prices. However, increasing inventory levels at ports may exert pressure on ore prices. As for the week ahead, considering that trading activity will likely remain at low levels and that most traders may be on holiday, it is believed that manganese ore prices in China will most likely follow a stable trend.
$1 = RMB 6.474