Amendment to Fastmarkets’ 37% manganese ore indices

Fastmarkets’ indices for manganese ore 37% Mn, cif Tianjin; manganese ore 37% Mn, fob Port Elizabeth; and manganese ore port index, base 37% Mn, range 35-39% fot Tianjin, China; track the spot prices of semi-carbonate manganese ore lump in the seaborne CIF China market, in the seaborne FOB South Africa market and in the Chinese port-side market respectively, with manganese content and other chemical specifications set to match the prevailing brands.

The amendments lower the manganese base in each index to 36.5% from 37%, and change the range of manganese content to 35-38% from 35-39%.

The iron content is amended to the range 3-10% from max 10%, and the phosphorus base is lowered to 0.02% from 0.025%. The phosphorus max will also be moved down to 0.05% from 0.16%, along with the alumina max to 1.5% from 2%.

The moisture base in the specifications has also been decreased to 2% from 4%.

The names of the three indices are also amended to “manganese ore semi carbonate index, 36.5% Mn” from “manganese ore index, 37% Mn.”

All other parts of the specifications remain unchanged.

The new price specifications, amended on Friday May 31, are as follows:

MB-MNO-0003 Manganese ore semi carbonate index, 36.5% Mn, cif Tianjin, $ per dmtu
Quality: 5.5-75mm lump. Manganese base 36.5%, range 35-38%; iron base 5%, range 3-10%; silica base 5.5%, max 12%; phosphorus base 0.02%, max 0.05%; alumina base 0.2%, max 1.5%; moisture base 2%, max 12%
Quantity: Min 5,000 tonnes
Location: cif Tianjin (other mainland seaports normalized)
Timing: Within nine weeks
Unit: US$ per dry metric tonne unit
Payment terms: Cash or LC on sight
Publication: Friday, 3pm London.

MB-MNO-0002 Manganese ore semi carbonate index, 36.5% Mn, fob Port Elizabeth, $ per dmtu
Quality: 5.5-75mm lump. Manganese base 36.5%, range 35-38%; iron base 5%, range 3-10%; silica base 5.5%, max 12%; phosphorus base 0.02%, max 0.05%; alumina base 0.2%, max 1.5%; moisture base 2%, max 12%
Quantity: Min 5,000 tonnes
Location: fob Port Elizabeth (South Africa)
Timing: Within nine weeks
Unit: US$ per dry metric tonne unit
Payment terms: Cash or LC on sight
Publication: Friday, 3pm London.

MB-MNO-0004 Manganese ore semi carbonate port index, 36.5% Mn, fot Tianjin, China, yuan/dmtu
Quality: 5.5-75mm lump. Manganese base 36.5%, range 35-38%; iron base 5%, range 3-10%; silica base 5.5%, max 12%; phosphorus base 0.02%, max 0.05%; alumina base 0.2%, max 1.5%; moisture base 2%, max 12%
Quantity: Min 1,000 tonnes
Location: fot Tianjin (other mainland China seaports normalized)
Timing: Immediate
Unit: Yuan 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.

The amendment follows a five-week open consultation, which began on Tuesday April 23, 2024, and closed on Monday May 27, 2024. You can view the original consultation by following this link.

To provide feedback on these indices, 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.