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Fastmarkets invited feedback from the industry on the pricing methodology for iron ore indices, via an open consultation process between March 10 to April 7 2025.This consultation was done as part of our published annual methodology review process.
A full list of all the prices covered can be found in the original consultation.
Fastmarkets received feedback suggesting an adjustment to the base specifications for its MB-IRO-0008 iron ore 62% Fe fines index to better reflect the mid-grade iron ore products traded in the spot market, given the likelihood that a major mid-grade iron ore fines brand specification will be adjusted at the end of the second quarter of 2025. Fastmarkets will therefore study the feasibility of a such a change and start internal trial calculations. If the feasibility study supports such an adjustment, a separate market consultation will be launched in due course.
This original open consultation sought to ensure that our methodologies continue to reflect the physical markets under indexation, 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 frequencies.
The current methodology for Fastmarkets’ iron ore indices can be found here.
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.