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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 dmtuQuality: 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 tonnesLocation: CIF Tianjin, China (normalized for any Chinese mainland sea port)Timing: Within nine weeksUnit: USD per dry metric tonne unitPayment terms: Cash or LC on sightPublication: Friday 3pm, London
MB-MNO-0005 — High grade manganese ore port index, fot Tianjin China, yuan per dmtuQuality: 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 tonnesLocation: FOT Tianjin (China) – normalized for any Chinese mainland sea portTiming: ImmediateUnit: CNY per dry metric tonne unitPayment terms: Cash or equivalentPublication: 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.”
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To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/methodology.