Chinese domestic manganese ore prices have followed a slightly upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.08/dmtu (RMB 45/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.69/dmtu (RMB 42.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.45/dmtu (RMB 41/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.43/dmtu (RMB 34.5/dmtu).
With coronavirus measures impacting activities at certain Chinese ports, supply volumes of manganese ore in China have been on the low side. Downstream buyers have raised their ore purchase prices by small margins in order to maintain their stock levels, while downstream manganese alloy prices have moved up a little both in the spot and futures markets, which has also supported manganese ore prices. As for the week ahead, considering that demand may increase before the Chinese New Year holiday, it is believed that manganese ore prices may remain firm or move up slightly.
$1 = RMB 6.352