Fastmarkets clarifies inclusion of exchange-linked data on iron ore: Pricing Notice

This will align with changes announced by SGX that SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures will change specification from 62% Fe to 61% Fe for new positions expiring in 2026 and beyond.

Fastmarkets will continue to use like-for-like derivatives alongside fixed-price equivalents when assessing iron ore. Fastmarkets will use the SGX 61% Fe forward curve as a reference for iron ore products traded against a 61% Fe index or a basket of 61% Fe indices.

For products traded against a 62% Fe index or a basket of 62% Fe indices, Fastmarkets will refer to the SGX 61% Fe forward curve and adjust for the differential using the difference between Fastmarkets’ 62% Fe and 61% Fe index, or market participants’ indication of the differential if deemed more reflective.

For products traded against a 62% Fe low-alumina index or a basket of 62% Fe low-alumina indices, Fastmarkets will refer to the SGX 61% Fe forward curve and adjust for the differential using the difference between Fastmarkets’ 62% Fe low-alumina index and Fastmarkets’ 61% Fe index, or market participants’ indication of the differential.

This methodology adjustment will apply to the following indices:
Iron ore 61% Fe fines, cfr Qingdao, $ per tonne MB-IRO-0191
Iron ore 62% Fe fines, cfr Qingdao, $ per tonne MB-IRO-0008
Iron ore 62% Fe low-alumina fines, cfr Qingdao, $ per tonne MB-IRO-0144

Fastmarkets will continue with a robust assessment process in iron ore. Fastmarkets reporters will continue to talk to a wide range of verified market sources daily to obtain fixed price, floating price and floating-to-fixed price conversion data.

Please note, this clarification of inclusion of exchange-linked data has no effect on historic prices.

To provide feedback on the content of the iron ore index methodologies, or if you would like to provide price information by becoming a data submitter to these indices, please email: pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com with the subject heading “FAO: Alice Li, re: Iron Ore Methodology.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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