The amendments lower the manganese base to 43.5% from 44%, change the range of manganese content to 40-47% from 42-48% and lower the iron base to 4.5% from 5%.
The silica base has been increased to 11% from 10%, the maximum silica content raised to 17% from 15% and the alumina base increased to 6.5% from 5%. The moisture base has been raised to 5.5% from 4%.
The names of the two indices have also been changed to “High grade manganese ore” from “Manganese ore index, 44% Mn.”
All other parts of the specifications remain unchanged. The new price specifications, amended on February 2, are as follows:
MB-MNO-0001 — High grade manganese ore index, cif Tianjin, $ per dmtu
Quality: 5.5-75mm lump. Manganese base 43.5%, range 40-47%; iron base 4.5%, max 16%; silica base 11%, max 17%; phosphorus base 0.10%, max 0.16%; alumina base 6.5%, max 14%; moisture base 5.5%, max 12%
Quantity: Min 5,000 tonnes
Location: CIF Tianjin, China (normalized for any Chinese mainland sea port)
Timing: Within nine weeks
Unit: USD per dry metric tonne unit
Payment terms: Cash or LC on sight
Publication: Friday 3pm, London
MB-MNO-0005 — High grade manganese ore port index, fot Tianjin China, yuan per dmtu
Quality: 5.5-75mm lump. Manganese base 43.5%, range 40-47%; iron base 4.5%, max 16%; silica base 11%, max 17%; phosphorus base 0.10%, max 0.16%; alumina base 6.5%, max 14%; moisture base 5.5%, max 12%
Quantity: Min 1,000 tonnes
Location: FOT Tianjin (China) – normalized for any Chinese mainland sea port
Timing: Immediate
Unit: CNY per dry metric tonne unit
Payment terms: Cash or equivalent
Publication: Friday 5-6pm, Shanghai time
These prices are part of the Fastmarkets ores & alloys physical prices package.
To provide feedback on this index or if you would like to provide price information by becoming a data submitter to these indices, please contact Tina Tong or Holly Chant by email at pricing@fastmarkets.com. Please add the subject heading “FAO: Tina Tong/Holly Chant, re: High grade manganese ore indices.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/methodology.
