PRICING NOTICE: Launch of weekly Manganese Ore Index 37% Mn, cif Tianjin

Launched after a consultation period, the new index will complement the two existing manganese ore prices, the 37%Mn fob Port Elizabeth South Africa Manganese ore index and the Manganese Ore Index 44% Mn, cif Tianjin $ per dmtu of metal contained.

Strong demand from China’s domestic steel market has facilitated a change in spot contract terms in the 37% manganese ore market over the past two years, with deals now increasingly concluded on a cif China basis, according to data collected by Metal Bulletin.

Recently, manganese ore prices have been especially volatile. Particularly, the manganese ore 37% fob index.

The 37%Mn cif Tianjin China Manganese ore index will provide additional information to this very liquid, uncertain and diversified market.

Metal Bulletin will now publish three indices and a Chinese port stocks inventory estimate.

The price histories for the existing two other prices and the inventory estimate can be viewed in Metal Bulletin Pricebook:

• Manganese Ore Index 37% Mn, fob Port Elizabeth $ per dmtu of metal contained
• Manganese Ore Index 44% Mn, cif Tianjin $ per dmtu of metal contained
• Manganese Ore inventories at the main Chinese ports of Tianjin and Qinzhou, million tonnes

Specification: Manganese Ore Index 37% Mn, cif Tianjin China $ per dmtu of metal contained
Unit measure: US$ per dry metric tonne unit (dmtu), cif Tianjin, China
Manganese content: Base 37%, range 35-39%
Iron content: Base 5%, maximum 10%
Silica content: Base 5.5%, maximum 12%
Phosphorous content: Base 0.025%, Maximum 0.16%
Alumina content: Base 0.2%, Maximum 2%
Moisture content: Base 4%, Maximum 12%
Form: Lump
Delivery/Loading Port: Tianjin (China) – normalized for any Chinese mainland sea port
Granularity: 5.5-75mm
Minimum tonnage: 5,000 tonnes
Payment method: Cash or equivalent
Delivery window: Within nine weeks

Metal Bulletin’s index methodology screens outliers and applies a balanced quantity weighted model to ensure that the index is the most robust in the industry.

Metal Bulletin has no financial interest in the level or direction of the index.

To provide feedback on this index or if you would like to provide price information by becoming a data submitter to this index, please contact Charlotte Radford by email at: pricing@metalbulletin.com. Please add the subject heading ‘FAO: Charlotte Radford re: Manganese ore 37 cif index’.

To see all Metal Bulletin’s pricing methodology and specification documents go to https://www.metalbulletin.com/prices/pricing-methodology.html