Fastmarkets has corrected its manganese ore indices, which were published incorrectly on Friday September 28 due to a calculation error.
The
44% manganese ore index, cif Tianjin, should have been published at $7.14 per dmtu. It was originally published at $7.29 per dmtu.
The
37% manganese ore index, fob Port Elizabeth, should have been published at $6.18 per dmtu. It was originally published at $6.16 per dmtu.
The
37% manganese ore index, cif Tianjin, should have been published at $6.86 per dmtu. It was originally published at $6.85 per dmtu.
The index is a tonnage-weighted calculation where actual spot trades have the greatest influence on the final price. Data provided to Fastmarkets MB is normalized to a base specification using in-house developed coefficients. The calculation error occurred due to the incorrect update to normalization coefficients on this occasion.
Fastmarket's price book and database have been updated to reflect this change.
For further information on this correction, or if you would like to provide price information by becoming a data submitter to the manganese ore indices, please contact Inaki Villanueva by email to:
pricing@fastmarkets.com. Please add the subject heading FAO: Inaki Villanueva re: 44% manganese ore index, cif Tianjin.
To see all Fastmarkets MB's pricing methodology and specification documents go to
https://www.metalbulletin.com/prices/pricing-methodology.html