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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.

PAYMENT TERM CHANGE

Assessment

Current Payment Terms

Proposed Payment Terms

Code

Monthly Average

Weekly Average

Yearly Average

Manganese Ore 44% CIF China

Cash at sight

L/C at sight

AAWER00

AAWER03

AAWER16

Manganese Ore 37% CIF China

Cash at sight

L/C at sight

AAXRX00

AAXRX03

AAXRX16

Please send all feedback, queries and comments to PL_Asia_Nonferrous@spglobal.com and pricegroup@spglobal.com.

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.