Chinese domestic manganese ore prices have showed stable movement, also with some minor decreases, during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.83/dmtu (RMB 47.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.40/dmtu (RMB 44.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.33/dmtu (RMB 44 /dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.18/dmtu (RMB 36/dmtu).
Overall trading activity has increased and is considered to be at normal levels. Demand has improved but some traders still chose to reduce their quoted prices slightly in order to close more deals. Support from the quotations of foreign manganese ore producers is still strong. As for the week ahead, it is believed that manganese ore prices may move up by small margins.
$1 = RMB 6.952