Decision to suspend amendment of manganese ore high grade indices

Fastmarkets has decided not to proceed with the proposal to amend the chemical specifications of its high grade CIF and FOT Tianjin manganese ore indices.

The post Decision to suspend amendment of manganese ore high grade indices appeared first on Fastmarkets.

Fastmarkets’ MB-MNO-001 Manganese ore high grade index, cif Tianjin, $ per dmtu, and MB-MNO-0005 Manganese ore high grade port index, fot Tianjin, China, yuan per dmtu, track the spot prices of high-grade manganese ore in the seaborne CIF China market and Chinese portside market respectively, with manganese content and other chemical specifications set to match the prevailing brands.

The proposal was to widen the manganese base to 42.0-44.5% from 43.5%, while keeping the overall range to 40-47%. Fastmarkets also proposed to change the iron base to a range of 3.5-5.0% from 4.5%, the silica base to a range of 8.0-15.0% from 11%, the phosphorus base to a range of 0.07-0.11% from 0.10%, the alumina base to a range of 5.5-7.6% from 6.5%, and the moisture base to a range of 3.0-8.0% from 5.5%. The maximum levels would not have changed.

The proposal was aimed at adjusting Fastmarkets’ specifications to bring them into line with the current market amid frequent changes in the manganese content of commonly-traded ores in recent months.

After a consultation period and having considered market feedback, Fastmarkets has determined that the proposed amendment is not a preferable solution.

Fastmarkets will provide a further update in due course and reserves the right start a fresh consultation on amending the price in the future.

To provide feedback on this decision not to amend the manganese ore high grade indices, please contact [Tina Tong/Holly Chant by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Tina Tong/Holly Chant, re: manganese ore high grade indices.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

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