Chinese domestic manganese ore prices have risen slightly during the past week, increasing by a smaller margin compared to the previous week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.77/dmtu (RMB 50/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.31/dmtu (RMB 47/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.00/dmtu (RMB 45/dmtu), while offers of South African lump ore of 38 percent Mn content are at $6.53/dmtu (RMB 42/dmtu).
Overall trading activity in the domestic manganese ore market has increased, but remains influenced by electricity supply restrictions, especially in northern areas. Supply volumes have declined a little, which also gives support for manganese ore prices at ports. As for the week ahead, considering downstream alloy prices may soften though demand for manganese ore may increase, it is believed that manganese ore prices may just indicate minor fluctuations.
$1 = RMB 6.431