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Two offers of $4.00 per dmtu, which were reported by buyers, and one trade of medium-sized volume at $4.22 per dmtu were included in the rationale as data points used to calculate Fastmarkets’ weekly manganese ore index 37% Mn, cif Tianjin.
But they had been automatically discarded as outliers, in accordance with Fastmarkets’ methodology. All data points that fall more than 10% away from the initial calculated index are automatically excluded – the index is then recalculated.
Fastmarkets’ rationale database has been updated to reflect this change. There is no change to the index number, however, which was published correctly at $3.50 per dmtu on October 25.
For more information or to provide feedback on this correction notice or if you would like to provide price information by becoming a data submitter to this index, please contact Jon Stibbs by email at pricing@fastmarkets.com. Please add the subject heading ‘FAO: Jon Stibbs re: Manganese ore index.’
To see all Fastmarkets’ pricing methodology and specification documents go to www.fastmarkets.com/about-us/methodology.