PRICING NOTICE: Proposal to launch manganese ore 37% Mn content cif China price

Metal Bulletin proposes to launch a manganese ore cif China weekly price and seeks market feedback.

An initial consultation with the market has indicated support from several large companies involved in manganese ore for a 37% Mn content cif price. Metal Bulletin is now opening up its consultation to the wider market.

It is not intended to review or discontinue the specification of the existing manganese ore indices, calculated by Metal Bulletin each Friday. This new manganese ore index would only include any cif China data points of 35-39% manganese content in its calculation, not those on a fot or fob basis.

Based on the data received by Metal Bulletin, there is sufficient liquidity in the cif market to ensure an accurate index, without further conversions of other data. The 35-39% manganese content cif data may also be used to supplement the existing 37% fob Port Elizabeth index, due to comparatively less liquidity in this market.

Demand for manganese ore from China has remained very high in recent years and despite an increased share of it coming from South Africa, the most common incoterm has remained cif rather than fob. The 37% market has also been growing in recent years, and today represents almost 70% of total South African exports. So, a large proportion of the market was not being directly priced – only indirectly through the fob 37% index. If the proposal goes ahead we intend to address this deficiency.

The intentions of this consultation are threefold:
1. To evaluate the possibility of launching a 37% China cif index.
2. To research and refine specifications, through regular data collection and conversations with those active in the spot market.
3. To identify and develop the most appropriate methodical approach for price discovery in this market.

It is intended that Metal Bulletin’s index methodology, using a tonnage-weighted calculation of actual spot transactions normalized to a base specification, will be adopted.

All information contributed to Metal Bulletin during the consultation and trial period will be kept secure and confidential.

The consultation period for this proposed launch will end one month from the date of this pricing notice, on Wednesday December 6, 2017.

Following the market consultation, a conclusion, including the details of any new prices to be launched by Metal Bulletin, will be announced on the following week.

To provide feedback on this index or if you would like to provide price information by becoming a data submitter to this index, please contact Fleur Ritzema by email at: Please add the subject heading FAO: Fleur Ritzema, re: manganese ore 37% Mn content cif China price.

To see all Metal Bulletin’s pricing methodology and specification documents go to

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