Chinese domestic manganese ore prices have risen sharply in the past seven days. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.76/dmtu (RMB 55/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $7.48/dmtu (RMB 53/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.34/dmtu (RMB52/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.34/dmtu (RMB 52/dmtu).
Manganese ore prices in China have moved up sharply during the past week due to the impact of the lockdown in South Africa - a major supplier of manganese ore - aimed at tackling the coronavirus. Domestic traders generally believe that, in addition to South Africa, other countries such as Australia will also be impacted by the coronavirus. In this context, the price of manganese ore has moved up strongly, while traders in China are trying to hold on to their inventories and wait for higher prices. Downstream manganese alloy prices have also increased, while demand for manganese ore in China is still at normal levels. As for the week ahead, it is believed that manganese ore prices in China may rise further but at a slower rate.
$1 = RMB 7.085