Platts proposes to launch high-grade manganese ore value-in-use differentials, change specifications for current ore grades

Platts, part of S&P Global Commodity Insights, is proposing to expand its CIF China manganese ore coverage by launching weekly value-in-use (VIU) assessments of iron and silica differentials for high-grade 44% manganese ores.

Platts is also proposing to revise the content specifications of both its existing 44% and 37% manganese ore assessments.

The proposed launch and revised specifications would take effect May 5, 2023.

The proposal to introduce VIU differentials reflects growing demand for increased spot pricing transparency. Market feedback is that determining potential penalties and premia for iron (Fe) and silica (SiO2) content of high-grade manganese ores would improve price normalization.

The differentials would be determined by analyzing data gathered from industry sources buying or selling cargoes with differing Fe content and differing silica impurities.

The VIU assessments would be published on Fridays alongside Platts weekly manganese ore CIF China assessments with specifications as stated below:

• Manganese Ore Iron (Fe) Differential per 1% (above 40% Manganese ore)
• Manganese Ore Silica (SiO2) Differential per 1% (above 40% Manganese ore)

The assessments would reflect a 1730 Singapore timestamp with a unit price of US dollars per dry metric ton unit.

At the same time, Platts is proposing to change the current assessed specifications for the iron content of 44% manganese ore from 6% to 4%, and semi-carbonate manganese ore content from 37% to 36%, considering market feedback.

Under this proposal, Platts manganese ore specifications would be as revised as follows:

The assessments are published in Platts Metals Alert pages MTL 395 and PMA 395, Platts Metals Daily, Steel Markets Daily, on Platts Market Center, in Platts Dimensions Pro and in the Platts price database.

Platts invites feedback to pl_asia_nonferrous@spglobal.com and pricegroup@spglobal.com by March 31, 2023.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.