Fastmarkets has corrected the rationale for its price indices for MB-IRO-0008 62% Fe fines, cfr Qingdao and for MB-IRO-0191 61% Fe fines, cfr Qingdao, which was published incorrectly on Friday October 31. The price of a floated-price Pilbara Blend fines transaction heard through market survey were erroneously recorded in the trade log part of rationale […]

Fastmarkets has corrected the rationale for its price indices for MB-IRO-0008 62% Fe fines, cfr Qingdao and for MB-IRO-0191 61% Fe fines, cfr Qingdao, which was published incorrectly on Thursday October 16. The fixed-price equivalence of several floated-price transaction concluded on a public platform were erroneously recorded in the trade log part of rationale in […]

The global iron ore market is at a turning point as quality becomes a critical focus. While steelmakers race toward cleaner production methods that require higher-grade ore, the supply side tells a different story. Declining grades and rising impurities are forcing market participants to reassess traditional benchmarks and adopt new pricing methodologies that reflect the realities of today’s traded material.

Fastmarkets has amended the base specification of its index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, to align with the specifications for high-grade sinter fines in the CFR Qingdao market.

The differential, dated October 31, is based on the simple mathematical average of the Fastmarkets’ high-grade iron ore silica value-in-use (MB-IRO-0192) as the sole input for the October 3-31 period inclusive, and is effective for use on and after November 3. The one-time differential is $(0.21) per tonne. It is intended to represent Fastmarkets’ reasonable assessment of the […]

Fastmarkets launches MB-IRO-0193 Iron ore 62% Australia-origin lump ore premium, cfr Qingdao, US cents/dry metric tonne unit (dmtu) on Tuesday October 21.

Iron ore is now the new pawn in international geopolitics, with China now pushing yuan-based payments for imported iron ore

Fastmarkets will publish a one-time differential after 5.30pm Singapore time on Friday October 31, that may be used to adjust the 65% Fe iron ore fines derivative and other contracts which settle against its iron ore 65% Fe Brazil-origin fines, cfr Qingdao, $/tonne (MB-IRO-0009) on the Singapore Exchange.

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 […]

The price and laycan of a fixed-price Pilbara Blend fines transaction concluded on a public platform were erroneously recorded in the trade log in these indices’ rationale. The trade log entry has been corrected as follows:Rio Tinto, Beijing Iron Trading Center (COREX), 170,000 tonnes of 61% Fe Pilbara Blend fines, traded at $103.70 per tonne, […]