Fastmarkets has corrected its weekly manganese ore 44% index, cif Tianjin, which was published incorrectly on Friday November 8 due to insufficiently verified data having been used in the calculation.
The index was published as $3.75 per dry metric tonne unit (dmtu) on November 8.
But one participant's data submission comprised an aggregated price and volume for several separate deals, the actual itemized values of which were later established to have differed from the data entered into the index. Since it was deemed that Fastmarkets' reporters could have done more to ascertain the specifics of this submission at the time, the decision has been made to retroactively calculate the index based on the updated information.
Therefore, the manganese ore 44% index, cif Tianjian has been corrected to $3.70 per dmtu after recalculation.
Fastmarkets' price book and database have been updated to reflect this correction.
For details of the manganese ore 44% index, cif Tianjin and other manganese ore indices, please see the
Fastmarkets price book.
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/Amy Lv by email at
pricing@fastmarkets.com. Please add the subject heading 'FAO: Jon Stibbs/Amy Lv re: Manganese ore index.'
To see all Fastmarkets' pricing methodology and specification documents go to
www.fastmarkets.com/about-us/methodology.