Chinese domestic manganese ore prices have indicated a mostly stable trend in the past week, with some slight downticks. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.61/dmtu (RMB 43/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.15/dmtu (RMB 40/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.00/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.69/dmtu (RMB 37/dmtu).
Overall trading activity in the manganese ore market in China has been weak since the downstream demand side has been influenced by restrictions on production volumes against the backdrop of electricity supply policy measures and the “two sessions” meetings held by China’s political leadership in Beijing. Overseas suppliers’ quoted prices are still at high levels, which gives strong support to manganese ore prices. As for the week ahead, considering the weakness of demand and the support from the cost side, it is believed that manganese ore prices in China may just indicate slight fluctuations.
$1 = RMB 6.503