Chinese domestic manganese ore prices have indicated a strong upward trend during the past week. The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $5.43/dmtu (RMB 38.5 /dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $5.28/mtu (RMB 37.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $5.14/dmtu (RMB 36.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.79/dmtu (RMB 34/dmtu).
Overall trading activity in the domestic manganese ore market has been at a low level as traders have mostly preferred to wait for higher prices. The Australian manganese ore supply volume has fallen sharply and quoted prices have increased strongly, causing all other manganese ore prices to increase also. Meanwhile, domestic demand has improved a little since the manganese alloy market has started to recover. As for the week ahead, since the supply volume may remain at a low level , it is believed that manganese ore prices may continue their upward trend.
$1 = RMB 7.096