Chinese domestic manganese ore prices have followed an upward trend during the past week.
The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.72/dmtu (RMB 40.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.93/mtu (RMB 42/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.93/dmtu (RMB 42/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.87/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has improved slightly in the past seven days but is still considered to be weak. Support from the cost side is still strong, while downstream manganese alloy prices have indicated an upward trend, causing manganese ore prices to follow suit. Manganese ore inventory levels at Chinese ports have declined lately, which has also provided support for manganese ore prices. As for the week ahead, it is believed that manganese ore prices may just indicate small fluctuations.
$1 = RMB 7.079