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The two new indices will be based on ores with manganese ore content of 37% and of 44%.
China is the world’s biggest consumer of manganese ores, accounting for 60-70% of all seaborne trades.
Demand for manganese ores has been steadily growing over recent years due to anticipated new projects in the downstream ferro-alloys sector. This has triggered adequate spot liquidity at Chinese major ports.
For the past few years, Chinese manganese ore port prices have been reacted very quickly to changes in supply and demand in China.
Domestic Chinese port indices for manganese ores will complement Fastmarkets MB’s existing manganese ore indices: 37% and 44% mn cif Tianjin. These four indices will provide market participants with a comprehensive view of both the domestic Chinese market as well as the China-bound seaborne manganese ore market.
The proposed specifications for the 37% manganese ore China port index are:
Price: 37% Manganese ore China port index Manganese: Base 37%, Range 35-39% Iron: Base 5%, Maximum 16% Silica: Base 6%, Maximum 12% Phosphorus: Base 0.40%, Maximum 0.16% Alumina: Base 1%, Maximum 8% Moisture: Base 4%, Maximum 12% Others: (sulphur, calcium, magnesia) Unit: Yuan per dry metric tonne unit Granularity: 5.5mm-75mm Form: Lumps Quantity: Min 1,000 tonnes Payment method: Cash or equivalent Delivery port: Tianjin – normalized for any Chinese mainland sea port Delivery window: Immediate Publication: Weekly. Friday, 3pm London time
The proposed specifications for the 44% manganese ore China port index are:
Price: 44% Manganese ore China port index Manganese: Base 44%, Range 42-48% Iron: Base 5%, Maximum 16% Silica: Base 4%, Maximum 12% Phosphorus: Base 0.10%, Maximum 0.16% Alumina: Base 6%, Maximum 12% Moisture: Base 4%, Maximum 12% Others: (sulphur, calcium, magnesia) Unit: Yuan per dry metric tonne unit Granularity: 5.5mm-75mm Form: Lumps Quantity: Min 1,000 tonnes Payment method: Cash or equivalent Delivery port: Tianjin – normalized for any Chinese mainland sea port Delivery window: Immediate Publication: Weekly. Friday, 3pm London time
The consultation period for this proposed launch will end on January 5, one month from the date of this pricing notice, with changes taking place from January 6.
Fastmarkets MB has no financial interest in the level or direction of any of the prices or indices it publishes.
To provide feedback on these manganese ore China port indices, or if you would like to provide price information by becoming a data submitter to these indices, please contact Karen Ng by email at: pricing@metalbulletin.com. Please add the subject heading FAO: Karen Ng, re: Manganese ore China port index.
To see all of Fastmarkets MB’s pricing methodology and specification documents, please go to https://www.metalbulletin.com/prices/pricing-methodology.html.