Fastmarkets is proposing to amend its iron ore indices methodology by exempting the calculation of the iron ore premium indices from the automatic 4% outlier filter, to provide a more accurate representation of market dynamics and a more comprehensive calculation of the premium indices.

Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands

Fastmarkets has corrected its MB-IRO-0008 iron ore 62% Fe fines, cfr Qingdao index, which was published incorrectly on Wednesday January 25 due to a technical error.

Shortages of high-grade pellet-feed iron ore concentrates and good-quality ferrous scrap such as plate and structural grades mean that direct-shipping iron ore fines are likely to remain the mainstay steelmaking raw material

Prices for import pig iron in the United States rose in the week to Friday December 30 on reduced stocks and expectations of higher scrap and steel prices in early 2023

Fastmarkets proposes to amend the index specifications of its 66% Fe iron ore concentrate index, increase the frequency from weekly to daily, and to launch a standalone premium index to more closely reflect and provide more transparency for the spot prices of iron ore concentrate products.

Oman-based long products steelmaker Jindal Shadeed Iron & Steel Oman plans to invest more than $3 billion to build a green steel plant in Oman, the company said on Sunday December 4

Fastmarkets has today discontinued its price assessment for hot-briquetted iron export, fob main port Venezuela (MB-FE-0002).

Governments of countries which are responsible for half of the global gross domestic product (GDP) outlined new targets for the previously agreed Breakthrough Agenda, a 12-month action plan to accelerate the drive toward decarbonization, delegates heard on Friday November 11 at the United Nations’ COP27 climate change conference in Egypt

The acceptance of green steel so far has been limited by competitive market forces, but it is likely to remain a fundamental focus in the industry, according to market participants