Chinese domestic manganese ore prices have followed a stable trend during the past week.
The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.83/dmtu (RMB 50/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.36/dmtu (RMB 47/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.04/dmtu (RMB 45/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.57/dmtu (RMB 42/dmtu). ($1 = RMB 6.389)
Overall trading activity in the Chinese domestic market has improved slightly as production volumes have recovered a little in some parts of the country. Overseas suppliers’ manganese ore quotations have been mostly stable and inventories at ports have been on the low side, especially for Australian ore, which provides strong support for manganese ore prices in the domestic market. Downstream manganese alloy market prices have softened due to the recent fall in steel futures prices in China. As for the week ahead, it is believed that domestic manganese ore prices may indicate slight fluctuations.