Correction to rationale of Iron ore 61% and 62% Fe fines, CFR Qingdao indices: pricing notice

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 in the MB-IRO-0008 and MB-IRO-0191 indices.

The trade log entry has been corrected as follows:

Rio Tinto, 170,000 tonnes of 62% Fe Pilbara Blend fines, traded at the December average of a 62% index plus a premium of $0.10 per tonne, laycan December 6-15 (fixed-price equivalent calculated at $106.38 per tonne CFR China)

BHP, bilateral trade, 110,000 tonnes of 61.2% Fe Newman Blend fines, traded at the December average of two 62% index with a discount of $1.50 per tonne, laycan December 1-10 (fixed-price equivalent calculated at $103.22 per tonne CFR China)

BHP, bilateral trade, 80,000 tonnes of 61.2% Fe Newman Blend fines, traded at the December average of two 62% index with a discount of $1.50 per tonne, laycan December 6-15 (fixed-price equivalent calculated at $103.26 per tonne CFR China)

BHP, bilateral trade, 80,000 tonnes of 60.5% Fe Mining Area C fines, traded at the December average of two 62% index with a discount of $1.18 per tonne, laycan December 6-15 (fixed-price equivalent calculated at $102.47 per tonne CFR China)

The published price is unaffected by this error.

This price is part of the Fastmarkets steelmaking raw materials package.

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 indices, please contact pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com. Please add the subject heading “FAO Adele Pan, re: iron ore 61% and 62% Fe price.”

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