Domestic manganese ore prices in China have showed a slight uptrend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $9.97/dmtu (RMB 71/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $10.11/mtu (RMB 72/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $9.83/dmtu (RMB 70/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.02/dmtu (RMB 50/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has been sluggish due to the off-season, while foreign manganese ore producers have continued to raise their quoted prices slightly, causing most traders in the domestic market to follow suit. Manganese ore inventory levels at ports have remained at low levels, also providing support for manganese ore prices. As for the week ahead, it is believed that manganese ore prices may just fluctuate by small margins.
$1 = RMB 7.123