Platts to clarify US high-carbon ferromanganese specs

Platts is proposing to clarify the specifications for its price assessment for high-carbon ferromanganese, 76-78% Mn, and to align the naming convention for the assessment across Platts Metals Alert, Platts Metals Week and Platts internal database, effective February 13, 2012.

The new specifications reflect what has prevailed in the market and will not result in a change to the data history or the consistence of the data going forward.

The name as it appears in Platts Metals Alert and Platts Metals Week will change to Ferromanganese High-Carbon 76% Mn in-warehouse US. Platts will assess a range of 74-78% Mn, normalized to 76%, carbon 7.5% max%, silicon 1.2%, phosphorous 0.5%, sulfur 0.02%; lumps 0.5- x 4.00 inch; S-origin and imported material, $/long ton Mn contained; in-bulk or 2,000-3,000 lb supersacks; duty-paid in-warehouse in key locations along the Mississippi, Chicago, Ohio and Columbia River systems and other key port warehousing locations, including Baltimore, Maryland; Long Beach, California; and Portland, Oregon; delivery within 60 days from date of transaction, net-30 days payment terms from date of delivery.

Transactions reported on a delivered basis will be normalized to an in-warehouse basis.

Fines normalized to stated lump specifications. Special packaging and payment terms to be normalized to meet stated specifications.

The specification will be for a minimum of four truckload quantities and greater.

The specification will be for minimum quantities of four truckloads and greater.

Assessments made Wednesdays, or closest business day, from survey of producers, traders and end users in the carbon, stainless and specialty steel sectors, closing at 4 pm New York time.

Please submit comments and/or questions to Anthony Poole, Anthony_Poole@platts.com or +1 212 904 2992.