Chinese domestic manganese ore prices have showed a mostly stable trend with some slight downticks during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.63/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.14/dmtu (RMB 36.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.35/dmtu (RMB 38/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.43/dmtu (RMB 31.5 /dmtu).
Overall trading activity in the domestic manganese ore has increased and is considered to be at normal levels. Some traders chose to cut their quoted prices by small margins in order to close more deals. Overseas manganese ore suppliers’ quoted prices have risen slightly, providing support for manganese ore prices. Downstream manganese alloy production has increased, causing demand for manganese ore to increase as well. As for the week ahead, considering the support from the cost side, it is believed that manganese ore prices in China may move sideways or up slightly.
$1 = RMB 7.108