Correction to Fastmarkets’ iron ore 62% Fe low-alumina fines index
Fastmarkets has corrected the calculation of its MB-IRO-0144 Iron ore 62% Fe low-alumina fines, cfr Qingdao, which was published incorrectly on Thursday October 20 due to an error.
The final price for the MB-IRO-0144 Iron ore 62% Fe low-alumina fines, cfr Qingdao has been corrected to $91.19 per tonne instead of the $91.37 per tonne published on Thursday.
The rationale after amendment is as below:
Rationale for 62% low-alumina fines
Fastmarkets’ index for iron ore 62% Fe Low Alumina fines, cfr Qingdao fell by $3.06 per tonne from the previous day. The price movement was based on the visible market activity detailed below, which was included in the index calculation according to the published methodology. No data was discarded in the calculation of these indices. Any data received under Data Submitter Agreements or subject to a confidentiality request will not be published.
Market participant indications
Fastmarkets’ index for iron ore 62% Fe-LA finesBrazilian Blend fines: $89.81-93.00 per tonne cfr Qingdao
Trades/Offers/Bids heard in the market
Vale, tender, 170,000 tonnes of 63% Fe Brazilian Blend fines, traded at the November average of Fastmarkets’ index for iron ore 62% Fe low-alumina fines plus a premium of $0.20 per tonne, laycan November 12-21 (Fixed price equivalent calculated at $91.16 per tonne cfr China)
For more information, or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to these prices, please contact Shaun Tan by email at: email@example.com. Please add the subject heading “FAO: Shaun Tan Re: Iron ore daily fines.”
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.