Amendment to publication time of Fastmarkets’ iron ore 61% Fe fines, fot Qingdao indices: pricing notice

Following a two-week consultation period, which concluded on Thursday February 5, Fastmarkets has amended the publication time of the indices for MB-IRO-0011 iron ore 61% Fe fines, fot Qingdao, yuan/wet tonne, and MB-IRO-0022 iron ore 61% Fe fines, fot Qingdao, $/dmt conversion from daily at 6:30pm Singapore time to daily at 6:30pm Shanghai time, as well as to be aligned with the Chinese pricing calendar, to ensure that they reflect the liquidity of China’s mainstream mid-grade fines spot market at ports more accurately.

The new specification 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: Min 500 tonnes
Location: fot Qingdao, normalized for any Chinese mainland sea port
Timing: Within 2 weeks
Unit: CNY/wet metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily 6:30pm Shanghai time
Notes: All origins. Data history from January 2014.

MB-IRO-0022 Iron ore 61% Fe fines, fot Qingdao, $/dmt 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: Min 500 tonnes
Location: fot Qingdao, normalized for any Chinese mainland sea port
Timing: Within 2 weeks
Unit: $/dry metric tonne conversion
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily 6:30pm Shanghai time
Notes: All origins. Data history from January 2014.

This price is 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 pricing@fastmarkets.com or steelrawmaterials@fastmarkets.com. Please add the subject heading “re: 61% Fe iron ore port index.”

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