TEX reported that, in relation to the formula to contract with Japanese consumers on import of manganese ore, its price was traditionally fixed on FOB base in the past years but has changed to on CIF base, effective from shipments in the fiscal year of 2010.

BHP Billiton, a major manganese mine, proposed so and the formula to contract with Japanese consumers on import of manganese ore has changed its price to on CIF base in the same case as that for China.

For a reference, Japan has been importing high grade lumpy manganese ore and the price of this grade ore contracted with Chinese customers is on a level of USD 8.12 per Mn 1% CIF China for April shipment.