From June 5, Fastmarkets will no longer have an undersize maximum specification for its index for iron ore 66% Fe iron ore concentrate, cfr Qingdao, $/tonne [MB-IRO-0013].

Feedback received from industry participants was supportive of the changes suggested in the proposal. No participants communicated any feedback in opposition to the changes.

The previous sizing specifications of this index were:

Maximum Size >80% <0.15mm. Undersize maximum 20%<0.05mm

The amended specification removes the undersize maximum to leave just the "Maximum Size >80% <0.15mm" limit. This amendment removes any technical limitation for the inclusion of ultra-fine material in this index.

All other chemical and physical specification details outside of the removal of this undersize maximum remain unchanged.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to this price, please contact Peter Hannah by email at: pricing@fastmarkets.com. Please add the subject heading "FAO: Peter Hannah, re: Iron Ore 66% Fe Concentrate."

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.