Fastmarkets has corrected its weekly manganese ore 37% index, cif Tianjin and 44% index, cif Tianjin rationales, which were published incorrectly on Tuesday April 6 due to reporter error.
The corrected rationales can be seen below:
MB-MNO-0003: Manganese ore index 37% Mn, cif Tianjin, $/dmtu
The Fastmarkets manganese ore 37% index, cif Tianjin moved down by 8 cents to $4.61 per dry metric tonne (dmtu).
There was one deal for a small volume at $4.70 per dmtu.
One offer was also reported at $4.70 per dmtu. Assessments were reported in a range of $4.20-4.80 per dmtu.
All data reported for 37% material was normalized to base specifications using in-house developed coefficients.
Any data received under Data Submitter Agreements or subject to a confidentiality request will not be published.
Market sentiment softened following recent portside price falls, with buyers anticipating prices would fall further in forthcoming sessions.
MB-MNO-0001: Manganese ore 44% Mn, cif Tianjin, $/dmtu
Fastmarkets' 44% cif Tianjin, manganese ore index fell by 5 cents to settle at $5.27 per dmtu.
There were four small volume trades reported at $5.53 per dmtu.
One offer was reported at $5.53 per dmtu.
Assessments were reported at $4.75-5.32 per dmtu.
Assessments were reported at $4.55, 4.65 and 4.75 per dmtu and automatically discarded after the brand normalization process.
All data points that fall more than 10% away from the initial calculated index are automatically excluded - the index is then recalculated, in accordance with our methodology.
Any data received under Data Submitter Agreements or subject to a confidentiality request will not be published.
All data reported for 44% material was normalized to base specifications using in-house developed coefficients.
Market sentiment softened following recent portside price falls with buyers anticipating prices would fall further in forthcoming sessions.
Fastmarkets' price book and database have been updated to reflect these corrections.
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/Siyi Liu by email at pricing@fastmarkets.com. Please add the subject heading "FAO: Jon Stibbs/Siyi Liu re: Manganese ore index."
To see all of Fastmarkets' pricing methodology and specification documents go to
https://www.fastmarkets.com/about-us/methodology.