End of open consultation on iron ore indices

Fastmarkets invited feedback on the pricing methodology for its iron ore indices via an open consultation launched on March 2. This one-month consultation was done as part of our published annual methodology review process

The consultation was extended by another month from April 6.

The consultation sought to ensure that our methodology continued to reflect the physical iron ore markets that the indices covered, in compliance with the principles of the International Organization of Securities Commissions (Iosco) for price reporting agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequencies.

Full details of the prices covered by this consultation can be found here.

The current methodology for Fastmarkets’ iron ore indices can be found here.

Upon the end of the initial consultation on March 31, comments and feedback received had suggested that some material changes might be required to the existing methodology.

Among the suggestions received were for the publication frequency of Fastmarkets’ index for iron ore 66% Fe concentrate, cfr Qingdao, $/tonne [MB-IRO-0013] be changed from weekly to daily, and for the launch of standalone concentrate premium indices against 65% Fe iron ore fines on a cfr China basis.

During the extended consultation period, Fastmarkets received supportive feedback regarding the suggestion to increase the publication frequency of Fastmarkets’ index for iron ore 66% Fe concentrate, cfr Qingdao, $/tonne [MB-IRO-0013]. As such, Fastmarkets will study the feasibility of increasing the publication frequency of this index and start internal trial calculations.

A separate market consultation will be launched if the feasibility study and internal trial calculations support increasing the publication frequency of this index.

As for the suggestion of launching standalone concentrate premium indices against 65% Fe iron ore fines on a cfr China basis, Fastmarkets received feedback during the extended consultation period suggesting that two separate standalone premium indices would be required to reflect different grades of iron ore concentrate.

But Fastmarkets also notes market participants’ concerns about the possibility that spot liquidity for iron ore concentrate might not be high enough to support the calculation of two separate standalone indices. As such, Fastmarkets has decided that further studies are required before deciding whether to launch an index or indices of this kind. Any proposal to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

Beyond this open consultation, Fastmarkets also invites feedback on a continuing basis throughout the year.

Please provide feedback to pricing@fastmarkets.com using the subject heading “FAO: Jane Fan, re: Iron Ore Indices Methodology.”

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

What to read next
Fastmarkets proposes to launch Nordic sawn timber export prices for selected European markets and grades, while discontinuing the PIX Sawn Timber FAS Finland indices. The PIX sawn timber FAS Finland indices have not been widely adopted by the industry and the new price assessments will offer more end-market-specific data for major European markets and will […]
To increase transparency, Fastmarkets has further clarified how it handles price movements during periods of low liquidity. Factors that Fastmarkets may consider during times of low liquidity include, but are not limited to: market fundamentals such as changes in inventory levels, shipments, operating rates and export volumes; relative fundamentals of similar commodities in the same […]
Fastmarkets invited feedback from the industry on the pricing methodology for PIX Packaging GCC indices via an open consultation process between April 16 and May 14, 2025. This consultation was done as part of our published annual methodology review process. Full details of the prices covered by this consultation can be found here. No feedback […]
Fastmarkets is inviting feedback from the industry on the pricing methodology for the PIX Forest Biomass Finland price indices, as part of its announced annual methodology review process. This consultation, which is open until June 12, 2025, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the […]
The publication of the following price was delayed for 10 minutes: MB-ALU-0002 Alumina index, fob Australia, $/tonne This price is a part of the Fastmarkets Base Metals package. For more information or to provide feedback on the delayed publication of this price or if you would like to provide price information by becoming a data submitter […]
Fastmarkets proposes to amend the frequency of Taiwan base metals prices from biweekly to monthly, and the delivery timing for the tin 99.99% ingot premium from two weeks to four weeks.