Amendment to iron ore 65% Brazil-origin fines index format

Fastmarkets will calculate its index for MB-IRO-0009 iron ore 65% Fe Brazil-origin fines, cfr Qingdao, $/tonne to two decimal places from October 2, instead of one decimal place, which is done currently.

This amendment is to align the index even closer with transaction prices in the spot market and will start from October 2, after a one-month market consultation.

The specifications of the MB-IRO-0009 index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao will not change.

The index is a part of the Steel Raw Materials Physical Prices package.

To provide any feedback, or if you would like to provide price information by becoming a data submitter to this price, please email pricing@fastmarkets.com. Please add the subject heading “FAO: Alice Li, re: Iron Ore 65% Fe Brazil-origin fines index.” 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 of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.

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