The Blues are looking to add to their centre forward options ahead of a drop back down to the Championship, with this season's 12-goal talisman, Liam Delap, closing in on a £30m move to Chelsea.
Town have several strikers on their long list and are currently in the early stages of enquiries. Chelsea striker Marc Guiu - a 19-year-old Barcelona youth graduate - is another they have asked about.
Transfer specialist Fabrizio Romano has reported that City value Mubama at £10m and that French club Lille have also shown interest.
The 20-year-old came through West Ham's academy. He scored one goal in two starts and 16 sub appearances - eight of them in the Premier League - for the Hammers.
Mubama subsequently joined City last summer for a £2m compensation fee. He made just two senior appearances for Pep Guardiola's men in 24/25, starting and scoring in an 8-0 rout of Salford in the FA Cup, then coming on as a sub in City's 6-0 victory at Portman Road in January.
Capped by England from U15 to U20 levels, he also qualifies to play international football for DR Congo.