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Platts to change CIF China manganese ore assessment payment terms to L/C at sight

Following market feedback, S&P Global Platts has decided to change payment terms for its weekly CIF China manganese ore assessments to letter of credit (L/C) at sight to reflect current standard market practice, effective March 19, 2021.

Payment terms for both weekly 44% and 37% manganese ores CIF China assessments would reflect L/C at sight instead of current cash at sight. Bids, offers, trades and other price indications on alternative payment terms would be normalized to reflect the proposed standard.

Platts assesses CIF China manganese ores in $/dmtu.

The affected assessments are published on Platts Nonferrous Metals Alert fixed page MTL0395, in Platts Metals Daily, Steel Markets Daily, Steel Raw Materials, on the Platts Market Center, and in the Platts price database under the codes listed below.



Current Payment Terms

Proposed Payment Terms


Monthly Average

Weekly Average

Yearly Average

Manganese Ore 44% CIF China

Cash at sight

L/C at sight




Manganese Ore 37% CIF China

Cash at sight

L/C at sight




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