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 $8.17/dmtu (RMB 58/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.45/mtu (RMB 60/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.03/dmtu (RMB 57/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.75/dmtu (RMB 55/dmtu).
Overall trading activity in the domestic manganese ore market has slackened due to the holiday period and also due to the further rises in manganese ore prices. Foreign manganese ore producers’ quoted prices have continued to increase, while low supply volumes have also provided support for manganese ore prices. As for the week ahead, considering that downstream manganese alloy prices have also moved up and that demand may recover, it is believed that manganese ore prices will continue their rising trend.
$1 = RMB 7.100