Chinese domestic manganese ore prices have followed an upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.14/dmtu (RMB 36.5/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.72/dmtu (RMB 33.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.00/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.58/dmtu (RMB 32.5/dmtu).
Overall trading activity in the domestic manganese ore market has remained weak due to the off-season. South Africa-based United Manganese of Kalahari (UMK) has lately announced a reduction in its supply volumes, causing ex-South Africa lump prices to increase strongly and causing prices of other types of lump ore to follow an upward trend. As for the week ahead, it is believed that manganese ore prices may continue their upward trend as buyers may want to increase their winter stock levels.
$1 = RMB 7.101