Chinese domestic manganese ore prices have showed a stable trend 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 $4.86/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 $4.86/dmtu (RMB 34.5/dmtu).
Overall trading activity has increased but is still on the weak side since downstream demand has not fully recovered. The support from foreign manganese ore producers’ quoted prices still lacks strength. The manganese alloy market has lately showed a weak tendency. As for the week ahead, considering demand may see a steady recovery, it is believed that manganese ore prices may move up by a small margin.
$1 = RMB 7.106