The Chinese domestic manganese ore market has indicated a very strong upward trend over the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $9.60/dmtu (RMB 64/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $9.00/dmtu (RMB 60/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.40/dmtu (RMB 56/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.05/dmtu (RMB 47/dmtu). ($1 = RMB 6.67)
Overall trading activity in the Chinese manganese ore market has been quite sluggish. The downstream manganese alloy market has moved on an upward trend in the past week due to the increased cost of ore. The demand side is mostly maintaining a wait-and-see stance. It is thought that manganese ore prices will not indicate large increases in the coming week, but will likely move sideways or undergo a correction depending on demand and downstream manganese alloy prices.