Amendment to Fastmarkets’ iron ore 62% Fe fines, fot Qingdao indices: pricing notice

After an extended consultation, which closed on Friday September 27, Fastmarkets has amended the base Fe specification and changed the names of its iron ore 62% Fe fines, fot Qingdao indices, changing the names to “iron ore 61% Fe”.

The new specifications would be as follows, with amendments in italics:

MB-IRO-0011 Iron ore 61% Fe fines, fot Qingdao, yuan/wet tonne
Quality:Fe content base 61%, range 60- 63%; silica base 4.3%, max 8%; alumina base 2.5%, max 4%; phosphorus; base 0.095%, max 0.15%; sulfur base 0.02%, max 0.06%; moisture base 8%, max 10%; granularity base size >90% < 6.3mm, at least 90% 90% < 6.3mm, at least 90%
Quantity: Minimum 500 tonnes
Location: FOT Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: CNY/wet metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Singapore time

MB-IRO-0022 Iron ore 61% Fe fines, fot Qingdao, $/tonne conversion
Quality:Fe content base 61%, range 60- 63%; silica base 4.3%, max 8%; alumina base 2.5%, max 4%; phosphorus; base 0.095%, max 0.15%; sulfur base 0.02%, max 0.06%; moisture base 8%, max 10%; granularity base size >90% < 6.3mm, at least 90% 90% < 6.3mm, at least 90%
Quantity: Minimum 500 tonnes
Location: FOT Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: $/wet metric tonne conversion
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Singapore time

These prices are 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 contact by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Adele Pan/Alice Li, re: 61% Fe Port Stock 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.