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 $6.63/dmtu (RMB 42.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.08/dmtu (RMB 39/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.93/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.70/dmtu (RMB 36.5/dmtu). ($1 = RMB 6.407)
Overall trading activity in the manganese ore market in China has been at normal levels in the past seven days. Overseas suppliers’ manganese ore quotations have risen slightly, giving strong support to manganese ore prices at ports. Downstream manganese alloy market prices have also given support to manganese ore prices. Supply volumes and inventory levels at Chinese ports have recently declined slightly. As for the week ahead, considering the support from the cost side, it is believed that manganese ore prices in China may move sideways, with some upticks possible.