The Chinese domestic manganese ore market has followed an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.46/dmtu (RMB 56/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.31/dmtu (RMB 55/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.01/dmtu (RMB 53/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.70/dmtu (RMB 51/dmtu). ($1 = RMB 6.62)
Overall trading activity in the Chinese manganese ore market has remained sluggish in the past week, while the uptrend of the market has been due to the sharp increases seen in the downstream manganese alloy market caused by environmental protection measures in Ningxia and in the Inner Mongolia region. Manganese ore traders are mostly trying to hold on to their inventories and wait for higher prices. However, it is believed the restrictions on manganese alloy production will reduce demand for manganese ore in the longer term. As for the coming week, it is thought that manganese ore prices in China may continue to move upwards.