Chinese domestic manganese ore prices have showed a mostly 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 $4.85/mtu (RMB 34.5/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $4.99/dmtu (RMB 35.5/dmtu), while offers of South African lump ore of 38 percent Mn content are at $4.71/dmtu (RMB 33.5/dmtu).
Overall trading activity in the Chinese domestic manganese ore market has remained weak, especially due to the proximity of the Chinese New Year holiday. Downstream manganese alloy prices have softened slightly but the impact on manganese ore prices has been limited due to the weak demand situation. As for the week ahead, it is believed that manganese ore prices will remain stable as a majority of market players have already started their holidays.
$1 = RMB 7.108