Chinese domestic manganese ore prices have showed stable or slightly upward movements during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.76/dmtu (RMB 48.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.76/mtu (RMB 48.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.62/dmtu (RMB 47.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.37/dmtu (RMB 38.5/dmtu).
Overall trading activity in the Chinese manganese ore market has increased and is at normal levels after the sharp fall in prices seen in the previous week, and this has contributed to the slight recovery of some ore prices. Downstream manganese alloy prices have continued to soften but by far smaller margins. As for the week ahead, considering that supply volumes from foreign producers may remain at low levels, it is believed that manganese ore prices may move up by small margins.
$1 = RMB 7.173