Chinese domestic manganese ore prices have moved sideways or up slightly during the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.65/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.79/mtu (RMB 41/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.79/dmtu (RMB 41/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.87/dmtu (RMB 34.5/dmtu).
Although overall trading activity in the manganese ore market in China has remained weak, the support from the cost side is still strong, allowing some traders to increase their quoted prices slightly. However, inventory levels at ports have increased a little, exerting some negative pressure on manganese ore prices. As for the week ahead, it is believed that manganese ore prices may just indicate minor fluctuations amid weak demand and support from the cost side.
$1 = RMB 7.083
