Chinese domestic manganese ore prices have followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.96/dmtu (RMB 60.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.44/dmtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.59/dmtu (RMB 58/dmtu), while offers of South African lump ore of 38 percent Mn content are at $8.00/dmtu (RMB 54/dmtu). ($1 = RMB 6.75)
Overall trading activity in the Chinese manganese ore market has improved to normal levels in the past seven days, while prices have switched from their previous slight downtrend to a stable trend with support from high-priced inventory and stock replenishment ahead of the Chinese New Year - even though foreign suppliers’ quoted prices for February have softened slightly. As for the week ahead, it is believed that manganese ore prices in China may maintain their stable trend as the demand side may continue to show a slight improvement.