Platts seeks feedback on new manganese ore assesments

Platts invites feedback by November 11 on a proposal to launch on December 1 daily spot price assessments of high-grade manganese ore, assessed on a CFR Tianjin and FOB Australia basis.

The prices will be assessed in US dollars per dry metric ton unit [dmtu] normalized to 44% content grade of manganese ore lump.

All values deemed typical; specifications with Mn content ranging from 41% to 46% are to be normalized to a standard where Fe content is 6.00%, SiO2 8%, Al2O3 7.00% P 0.11%, moisture is 3.00% and sizing at 5mm to 80mm, 90% passing.

Timing of cargoes assessed will be for delivery 2-8 weeks from date of publication, minimum 5,000 mt or full hatch, Handysize class vessel.

Container shipment will be normalized to this standard using prevailing freight rates.

Payment terms will be deemed 100% payment at sight with all variations normalized to this standard.

Price assessments would reflect the close of the Asian/Australian markets time stamped at 1830 Singapore time.

The assessments would be published in Platts Metals Alert, Metals Week and its Metals Daily supplement, and data-only packages will be available on Market Data, with monthly averages also available on the same services.

Please submit feedback, comments or questions to: Karen McBeth, karen_mcbeth@platts.com; Anthony Poole, anthony_poole@platts.com; Jitendra Gill, jitendra_gill@platts.com; with a cc to Francis Browne, francis_browne@platts.com and pricegroup@platts.com by November 11, 2011.