The Chinese domestic manganese ore prices have showed a sharply upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $6.33/dmtu (RMB 45/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $6.26/mtu (RMB 44.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $6.12/dmtu (RMB 43.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.56/dmtu (RMB 39.5/dmtu).
Chinese manganese ore prices have kept a strong upward trend during the past week. Overall trading activity has kept increasing since downstream alloy prices have indicated an upward trend. However, supply volume kept at low level which caused traders mostly willing to hold their stock and wait for higher prices. Downstream alloy prices have showed an upward trend both for spot market and the future market and production volume has kept increasing which led demand volume of manganese ore also going upward. As for the week ahead, considering the low supply volume and high demand volume, it is believed that manganese ore prices may keep increasing.
$1 = RMB 7.106