Chinese domestic manganese ore prices have continued their strong upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.63/dmtu (RMB 40/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.56/mtu (RMB 39.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.49/dmtu (RMB 39/dmtu), while offers of South African lump ore of 38 percent Mn content are at $5.14/dmtu (RMB 36.5/dmtu).
Overall trading activity in the Chinese manganese ore market has improved slightly and is considered to be at normal levels, while prices have continued to rise strongly since supply volumes and inventory levels at ports, especially for Australian lump ore, have continued to decline. Buyers’ low inventory levels have also provided strong support for manganese ore prices. As for the week ahead, since support from foreign manganese ore producers may remain strong, it is believed that manganese ore prices in the domestic market may continue to increase.
$1 = RMB 7.103