Chinese Manganese Ore Traders Are Bullish On The Market Outlook

Due to heightened market sentiment, the mainstream price of Australian manganese ore with a 45% minimum Mn content at Qinzhou Port has increased by 0.7 yuan per dry metric ton unit (dmtu) compared to earlier this week, reaching 60-62 yuan/dmtu. Traders believe that prices may rise further in the coming days.

A Shanghai-based trader revealed that they are currently quoting around 65 yuan/dmtu for Australian manganese ore with a 45% minimum Mn content at Qinzhou Port. They expect to sell at 62 yuan/dmtu but will not accept any price below 61 yuan/dmtu. Their most recent transaction occurred earlier this week when they sold over 1,000 tons at 61 yuan/dmtu. The trader stated, "As downstream consumers accept higher prices, manganese ore prices may rise further in the coming days." The trader expects to sell more than 8,000 tons this month and currently holds about 6,000 tons in inventory.

Another trader from Guangxi disclosed that they are currently quoting 66 yuan/dmtu for Australian manganese ore with a 45% minimum Mn content at Qinzhou Port. The trader stated, "At this price level, it is still difficult to conduct large transactions. However, we are not accepting any sales prices below 61 yuan/dmtu either." Last week, they were still willing to accept a sales price of 58 yuan/dmtu. Their most recent transaction was earlier this week when they sold about 200 tons at 66 yuan/dmtu. The trader is optimistic about the market outlook, expecting prices to rise in the coming days.

This trader's monthly trade volume is about 1,000 tons, and they currently have no inventory.