Chinese domestic manganese ore prices have moved either sideways or upward 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 $4.85/mtu (RMB 34.5/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 $4.85/dmtu (RMB 34.5/dmtu).
Overall trading activity in the domestic manganese ore market has been weak in the past seven days since most traders are not back from their holidays yet. Overseas manganese ore producers’ quoted prices have followed an upward trend during the Chinese New Year holiday period, causing certain traders to follow suit in the local market. However, since most downstream buyers are not back in the market yet, a general increase may be seen only during the coming week. So, as for the week ahead, considering the support from the cost side, it is believed that manganese ore prices may increase slightly.
$1 = RMB 7.107