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The annual consultation sought to ensure that our audited methodologies and price specifications continue to reflect the physical markets for steelmaking raw materials, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
The current methodology for all Fastmarkets’ steelmaking raw material indices can be found here.
The prices which were subjected to the annual review are as follows:
MB-IRO-0191 Iron ore 61% Fe fines, cfr Qingdao, $/dmt
MB-IRO-0008 Iron ore 62% Fe fines, cfr Qingdao, $/dmt
MB-IRO-0144 Iron ore 62% Fe low-alumina fines, cfr Qingdao, $/dmt
MB-IRO-0009 Iron ore 65% Fe Brazil-origin fines, cfr Qingdao, $/dmt
MB-IRO-0193 Iron ore 62% Australia-origin lump ore premium, cfr Qingdao, US cents/dmtu
MB-IRO-0187 Iron ore 67.5% Fe pellet feed premium, cfr Qingdao, $/dmt
MB-IRO-0188 Iron ore 67.5% Fe pellet feed, cfr Qingdao, $/dmt
MB-IRO-0015 Iron ore 58% Fe fines, cfr Qingdao, $/tonne
MB-IRO-0016 Iron ore 58% Fe fines high-grade premium, cfr Qingdao, $/dmt
MB-IRO-0017 Iron ore 58% Fe fines high-grade premium index, cfr Qingdao, $/dmt
MB-COA-0003 Premium hard coking coal, fob eastern Australia, $/wmt
Please note that MB-IRO-0017 is a composite of MB-IRO-0015 and MB-IRO-0016.
During the consultation period, Fastmarkets received feedback on the rising demand for further refinement in the price discovery process of high-grade iron ore sinter fines, amid emerging trade flows from West Africa.
A separate market consultation will be launched to invite feedback on Fastmarkets’ high-grade iron ore pricing coverage.
Beyond this open consultation, Fastmarkets also invites feedback on a continuing basis throughout the year.
Please contact pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com. Please add the subject heading “re: steelmaking raw materials pricing methodology.”
To see all of Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.