Metalshub launches its first Chinese price index for Manganese Metal
Metalshub continues to expand its price coverage of the metal markets and is pleased to inform its users and subscribers that since June 2021 the first China price index is available.
As usual, Metalshubis glad to improve the offering for the already existing subscribers: those who are currently subscribed to Metalshub's entire suite of price indices will receive access to the new index WITHOUT any additional charges as part of their existing subscription.
Manganese metal is one of the most widely used materials for high-quality carbon, stainless and special steel production. Manganese metal is added to improve mechanical properties and corrosion resistance of aluminium alloys 3000-series, especially those used in the production of beverage can sheet alloys. Manganese also acts as a deoxidizer or desulphuriser in the production of steel. It is also used in the production of flux mixtures for welding rods.
China is the biggest producer and main supplier of manganese metal to the global market. Chinese exporters cover up to 91% of the global manganese metal trade and meet up to 88% of the EU demand for this material, the UN Comtrade data for 2020 shows.
The new price index has the following specifications: Manganese Metal 99.7% Mn min, C 0.04% max, P 0.005% max, S 0.05% max, Fe+Se+Si 0.205% max on an FOB major Chinese sea port, pre-payment basis. The index will be updated weekly. Metalshub will calculate the new index based on the FCA major European sea port price index. This index is based on data from real negotiations and contracts concluded on Metalshub’s digital trading platform, a groundbreaking innovation in the way price discovery is conducted in the metals industry. From the European index price, the EU import duty, logistics and financing costs are subtracted.
More than 1,100 companies from the metals-industry are registered on Metalshub, generating more than 1,000 bids and offers per month. Over the first five months of 2021, the platform traded volume has exceeded its entire 2020 result and reached > $ 400 M.
About the Metalshub Price Index.
The are solely based on real transactions, bids and offers from the digital Metalshub platform, which is a fundamental shift in price reporting. The information is collected automatically without any journalistic work, e.g. telephone calls to market participants. This methodology minimises the risk of price manipulation and ensures a more robust picture of real market prices.
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