Metal Bulletin 62% Fe iron ore index used to price Pilbara Blend Fines

The use of Metal Bulletin’s iron ore indices to price physical cargoes continues to expand, with a Pilbara Blend Fines cargo traded basis the Metal Bulletin 62% Fe iron ore index on an online platform on Thursday November 23.

A 170,000-tonne cargo of Pilbara Blend Fines traded at a premium of $1.20 per tonne to the January 2018 average of Metal Bulletin 62% Fe iron ore cfr China index on online trading platform globalOre on Thursday, market sources said. The cargo’s notional arrival period will be in January 2018.

Pilbara Blend Fines, produced by Rio Tinto, is the most-traded physical iron ore in the market.

Vale said last month that it will price 100% of its Carajás sales contracts based on Metal Bulletin’s 65% Fe iron ore index - part of initiatives intended to improve the prices it achieves for its products.

Metal Bulletin’s 62% Fe iron ore index was at $67.69 per tonne on November 23, an increase of $2.52 per tonne.

What to read next
Is the ‘green’ advantage held by steel companies in the US at risk as the market adopts a more rigorous approach to reducing Scope 3 emissions?
Steel industry leaders applauded the White House’s announcement of “Buy Clean actions”
The publication of Fastmarkets’ daily lithium battery-grade carbonate and hydroxide spot prices, cif China, Japan and Korea was delayed on Wednesday June 22 due to a reporter’s error.
The Korean chemical company LG Chem announced on Thursday June 2 that it was establishing a joint venture with Korea Zinc subsidiary Kemco for recycling precursors, the raw materials for cathodes used in electric vehicles.
Fastmarkets will adjust its steel and steel raw materials publishing schedule for the EMEA, CIS and Turkey regions this week due to the UK public holidays on Thursday June 2 and Friday June 3.
Fastmarkets invited feedback from the industry on its pricing methodologies for its Northern Europe and United States hot-rolled coil (HRC) indices as part of its annual methodology review process.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.