Chinese domestic manganese ore prices have continued their upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $10.13/dmtu (RMB 72/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.27/mtu (RMB 73/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.85/dmtu (RMB 70/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.74/dmtu (RMB 55/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has increased and is considered to be at normal levels. Foreign manganese ore producers’ quoted prices have kept rising and this has been the main factor causing domestic manganese ore prices to continue to move up. Downstream manganese alloy prices have showed a soft tendency and the demand volume for manganese ore has declined. Except for ex-South Africa ore, inventories of other ores continue to decrease at Chinese ports, which also supports prices strongly. As for the week ahead, considering the strong support from foreign manganese ore producers’ quoted prices, it is believed that manganese ore prices may keep moving up.
$1 = RMB 7.108