Chinese domestic manganese ore prices have followed a stable trend during past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.63/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.84/mtu (RMB 41.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.63/dmtu (RMB 40/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.79/dmtu (RMB 34/dmtu).
Overall trading activity in the Chinese manganese ore market has improved slightly and is considered to be at normal levels. Overseas suppliers’ quoted prices have continued to support local manganese ore prices, while downstream manganese alloy production has increased a little lately, further boosting demand for manganese ore. As for the week ahead, it is believed that manganese ore prices may increase slightly, supported by improving demand.
$1 = RMB 7.103