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Metal Bulletin will change the manganese ore content for its Manganese ore index, 38% Mn to 37% manganese from May 1 2015, and amend its name accordingly.
This follows a consultation announced on February 19.
Participants in the market are increasingly reporting 37% manganese content to Metal Bulletin, rather than 38%. All other reported contents will be normalised to 37% from May 1. The change from 38% to 37% means less normalisation will be necessary.
It also means the final index price will be slightly lower than when normalised to 38%, reflecting the slightly lower manganese content.
The price history will remain unchanged and will be accessed as normal but will show the date of the change to 37% from 38%.
The new specification is as follows:
The specification for the 37% manganese ore index would be: Price description: Manganese ore index, 37% manganese, fob Port Elizabeth Manganese content: Base 37%, Range 35% to 39% Iron content: Base 5%, Maximum 16% Silica content: Base 6%, Maximum 12% Phosphorous content: Base 0.04%, Maximum 0.16% Alumina content: Base 1%, Maximum 8% Moisture content: Base 4%, Maximum 12% Others contents: (sulphur, calcium, magnesia) Loading port: Port Elizabeth (South Africa) Unit measure: US$ per dry metric tonne unit, fob Port Elizabeth, South Africa Granularity: 5.5mm-75mm Form: Lumps Publication: Weekly Trade Size: 5,000mt Payment method: Cash or equivalent Loading window: Six weeks
If you have any questions about the reason for these changes or about participating in the index, please contact Janie Davies: jdavies@metalbulletin.com
if you have any questions about price history or how these changes may affect your use of the index, please contact Inaki Villanueva: ivillanueva@metalbulletin.com