Fastmarkets proposes to narrow optimized range for iron ore silica value-in-use

Under the proposal, Fastmarkets will narrow the optimized range for its iron ore fines, % Si VIU from 3.5-8% to 3.5-6.5%, allowing the value-in-use to better reflect the most liquid and representative segment of the mid-grade fines market.

Fastmarkets’ chemistry adjustments represent the market-implied value of individual chemistries. They are calculated and updated every Monday based on a regression analysis using the previous week’s data, before remaining flat from Tuesday to Friday.

The new specifications are listed below, with the amendments in italics:

MB-IRO-0020 Iron ore fines, % Si VIU, cfr Qingdao, $/dmt
Silica Value In Use adjustments (Si-VIU)
Calculated from data in the 60-63% Fe range
Optimized range: 3.5-6.5%
Data history from December 2013
This price is part of the Fastmarkets steelmaking raw materials package.

Please send any questions or comments by July 24 to pricing@fastmarkets.com and steelrawmaterials@fastmarkets.com.

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, please go to the Fastmarkets methodology page.