Chinese domestic manganese ore prices have increased slightly during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.85/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.63/dmtu (RMB 38.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.34/dmtu (RMB 36.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.63/dmtu (RMB 38.5/dmtu).
Overall trading activity in the manganese ore market in China has improved but is still on the weak side. Overseas suppliers’ manganese ore quotations have increased slightly, causing most traders to follow suit. However, the situation in the downstream manganese alloy market is still unclear and so most traders are maintaining a wait-and-see stance. While production volumes of manganese alloys may decline due to environmental issues, the impact on alloy prices is still not clear. If alloy prices show a strong performance, manganese ore prices may follow an upward trend. But if alloy prices do not increase, high inventory levels of manganese ore may cause manganese ore prices to soften. As for the week ahead, it is thought that manganese ore prices in China may fluctuate by small margins.
$1 = RMB 6.836