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 $6.34/dmtu (RMB 41/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.03/dmtu (RMB 39/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.03/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.57/dmtu (RMB 36/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has remained weak since most downstream players have not fully resumed their activities yet. Downstream manganese alloy prices have increased, but alloy production volumes are still low, causing demand for manganese ore to be low also. Manganese ore inventory levels at ports have increased, which exerts some pressure on manganese ore prices. As for the week ahead, it is believed that manganese ore prices in China may continue to follow a mostly stable trend, with slight fluctuations possible.
$1 = RMB 6.463