Chinese domestic manganese ore prices have continued their sharp upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $7.88/dmtu (RMB 56/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.02/mtu (RMB 57/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $7.31/dmtu (RMB 52/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.74/dmtu (RMB 55/dmtu).
Overall demand and trading activity in the domestic manganese ore market have continued to improve since downstream manganese alloy prices have risen further and alloy producers need to prepare for the Labor Day holiday. The reduced manganese ore supply volumes from Australia have also continued to influence manganese ore prices. Meanwhile, foreign manganese ore producers have hiked their quoted prices strongly. As for the week ahead, it is believed that manganese ore prices will move up further again.
$1 = RMB 7.106