Launch of iron ore 65% and 58% fines prices, fot Qingdao

The launch of these new prices reflect the value disparity of different grades of iron ore in China’s portside market.

The specifications of the new prices are as follows:

MB-IRO-0196 Iron ore 65% Fe fines, fot Qingdao, yuan/wet metric tonne
Quality: Fe content base 65%, range 63.5-66%; Silica base 3%, max 5%; alumina base 1.8%, max 3%; phosphorus base 0.075%, max 0.15%; sulfur base 0.01%, max 0.07%; moisture base 9%, max 10%;
Quantity: Min 500 tonnes
Location: fot Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: yuan/wet metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Shanghai time
Notes: All origins. Includes 13% VAT and port fees. Rounded to the nearest yuan.

MB-IRO-0197 Iron ore 65% Fe fines, fot Qingdao, $/dry metric tonne, conversion
Quality: Fe content base 65%, range 63.5-66%; Silica base 3%, max 5%; alumina base 1.8%, max 3%; phosphorus base 0.075%, max 0.15%; sulfur base 0.01%, max 0.07%; moisture base 9%, max 10%;
Quantity: Min 500 tonnes
Location: fot Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: USD/dry metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Shanghai time
Notes: All origins

MB-IRO-0198 Iron ore 58% Fe fines, fot Qingdao, yuan/wet metric tonne
Quality: Fe content base 58%, range 56-60%; Silica base 6%, max 9%; alumina base 3%, max 5%; phosphorus base 0.08%, max 0.15%; sulfur base 0.04%, max 0.07%; moisture base 8%, max 10%;
Quantity: Min 500 tonnes
Location: fot Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: yuan/wet metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Shanghai time
Notes: All origins. Includes 13% VAT and port fees. Rounded to the nearest yuan.

MB-IRO-0199 Iron ore 58% Fe fines, fot Qingdao, $/dry metric tonne, conversion
Quality: Fe content base 58%, range 56-60%; Silica base 6%, max 9%; alumina base 3%, max 5%; phosphorus base 0.08%, max 0.15%; sulfur base 0.04%, max 0.07%; moisture base 8%, max 10%;
Quantity: Min 500 tonnes
Location: fot Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: USD/dry metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Shanghai time
Notes: All origins

Data is normalized to each brand’s base specifications using in-house developed models based on regression analysis of the previous month’s collected data points. An additional adjustment is applied to normalize the port of sale to the base location, Qingdao, based on the previous month’s relative prices.

Due to the nature of participants in the port market, the index is a tonnage-weighted average of all transactions. They are not split into sub-indices as is the case in the rest of Fastmarkets’ indices.

The conversion price calculations for China’s portside iron ore indices are in $/dmt, accounting for the exchange rate, port charges and VAT.

These prices are a part of the Fastmarkets steelmaking raw materials package.

To provide feedback on this index or if you would like to provide price information by becoming a data submitter to this index, please email pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com. Please add the subject heading “Iron Ore Fines 58% and 65% Fe, fot Qingdao.”

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To see all Fastmarkets’ pricing methodology and specification documents go to the Fastmarkets methodology page.