MethodologyContact usSupportLogin
Fastmarkets has corrected the rationale for its price indices for MB-IRO-0008 62% Fe fines, cfr Qingdao and for MB-IRO-0191 61% Fe fines, cfr Qingdao, which was published incorrectly on Thursday October 16.
The fixed-price equivalence of several floated-price transaction concluded on a public platform were erroneously recorded in the trade log part of rationale in the MB-IRO-0008 and MB-IRO-0191 indices.The trade log entry has been corrected as follows:
BHP, bilateral trade, 80,000 tonnes of 61.2% Fe Newman Blend fines, traded at the November average of a 62% Fe index with a discount of $1.50 per tonne, laycan November 21-30 (fixed-price equivalent calculated at $102.24 per tonne CFR China)
BHP, bilateral trade, 90,000 tonnes of 61.2% Fe Newman Blend fines, traded at the November average of a 62% Fe index with a discount of $1.50 per tonne, laycan November 11-20 (fixed-price equivalent calculated at $102.20 per tonne CFR China)
BHP, bilateral trade, 80,000 tonnes of 60.5% Fe Mining Area C fines, traded at the November average of a 62% Fe index with a discount of $1.70 per tonne, laycan November 6-15 (fixed-price equivalent calculated at $100.80 per tonne CFR China)
BHP, bilateral trade, 90,000 tonnes of 60.5% Fe Mining Area C fines, traded at the November average of a 62% Fe index with a discount of $1.70 per tonne, laycan November 6-15 (fixed-price equivalent calculated at $100.79 per tonne CFR China)
BHP, bilateral trade, 80,000 tonnes of 60.3% Fe Jimblebar Blend fines, traded at the November average of a 62% Fe index with a discount of $6.50 per tonne, laycan November 16-25 (fixed-price equivalent calculated at $95.73 per tonne CFR China)
Spot market, 170,000 tonnes of 62% Pilbara Blend fines, traded at the December average of a 62% Fe index plus a premium of $0.40 per tonne, laycan November 12-21 (fixed-price equivalent calculated at $104.57 per tonne CFR China)
Vale, globalORE, 170,000 tonnes of 62% Brazilian Blend fines, offered at $108.00 per tonne CFR Qingdao, laycan November 17-26.
The published indices were unaffected by this error.These indices are part of the Fastmarkets steelmaking raw materials package.For more information, or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to these indices, please contact pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com. Please add the subject heading “FAO Adele Pan, re: iron ore 61% and 62% Fe price.”Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.