Following the month-long consultation period, the name and the specifications of the abovementioned value-in-use adjustments will be amended in line with the launch of the MB-IRO-0191 61% Fe iron ore fines, cfr Qingdao index.
MB-IRO-0018 Iron ore 61% fines, % Fe VIU, cfr Qingdao, $/tonne
Iron Value In Use adjustments (Fe -VIU)
Value of Iron Ore at X% Iron =MBIOI61 + (% Fe
difference from 61% * Fe-VIU Index)
Calculated from data in the 60-63% Fe range
Optimised range: 60-63% Fe
Data history from: July 2012
MB-IRO-0020 Iron ore fines, % Si VIU, cfr Qingdao, $/tonne
Silica Value In Use adjustments (Si-VIU)
Value of Iron Ore at X% Silica= MBIOI61 + (% Si
difference from 4% * Si-VIU Index)
Calculated from data in the 60% -63% Fe range
Optimised range: 3.5-9.0%
Data history from December 2013
MB-IRO-0021 Iron ore fines, % Al2O3 VIU, cfr Qingdao, $/tonne
Alumina Value In Use adjustments (AI-VIU)
Value of Iron Ore at X% Alumina= MBIOI61 + (% Al
difference from 2.3% * Al-VIU Index)
Calculated from data in the 60.0% -63% Fe range
Optimised range: 1.0-3.5%
Data history from November 2014
MB-IRO-0024 Iron ore fines, 0.01% P VIU, cfr Qingdao, $/tonne
Phosphorous Value In Use adjustments (P-VIU)
Value of Iron Ore at X% Phosphorus= MBIOI61 +
(0.01% P difference from 0.10% * P-VIU Index)
Calculated from data included in the MBIOI-61
Optimised range: 0.04-0.13% P
Data history from October 2015
These prices are a part of the Fastmarkets steelmaking raw materials package.
To provide feedback on the index or if you would like to provide price information by becoming a data submitter to the index, please email pricing@fastmarkets.com. Please add the subject heading “FAO: Norman Fong, re: Iron ore VIUs.”
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 https://www.fastmarkets.com/about-us/methodology.
(Fastmarkets’ index for the MB-IRO-0020 Iron ore fines, % Si VIU, cfr Qingdao index, the MB-IRO-0021 Iron ore fines, % Al2O3 VIU, cfr Qingdao index, and the MB-IRO-0024 Iron ore fines, 0.01% P VIU, cfr Qingdao index in the fourth, fifth and sixth paragraph respectively was erroneously spelled when this report was originally published. The respective index titles have since been corrected.)
