Chinese domestic manganese ore prices have followed a stable trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.09/dmtu (RMB 36/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $4.66/dmtu (RMB 33/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.95/dmtu (RMB 35/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.31/dmtu (RMB 30.5/dmtu).
Overall trading activity in the domestic manganese ore market has been sluggish since most downstream buyers were maintaining a wait-and-see stance before the New Year holiday. In the downstream manganese alloy market, prices have just fluctuated slightly, while production volumes are at normal levels. As for the week ahead, considering most traders want to keep their prices stable or wait for a further increase before downstream buyers start to increase their winter stock levels, it is believed that manganese ore prices may follow a stable or slightly upward trend.
$1 = RMB 7.077