Open consultation on methodology for Fastmarkets’ iron ore indices

Fastmarkets is inviting feedback from the industry on the pricing methodology for its iron ore indices, as part of its announced annual methodology review process.

This consultation, which is open until March 31, 2023, seeks to ensure that our methodologies continue to reflect the physical market 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 frequency.

You can find the current methodology for Fastmarkets’ iron ore indices here.

The prices subject to this annual review are as follows:
• MB-IRO-0016 Iron ore 58% Fe fines high-grade premium, cfr Qingdao, $ per tonne
• MB-IRO-0017 Iron ore 58% Fe fines high-grade premium index, cfr Qingdao, $ per tonne
• MB-IRO-0015 Iron ore 58% Fe fines, cfr Qingdao, $ per tonne
• MB-IRO-0021 Iron ore 62% Fe fines, % Al2O3 VIU, cfr Qingdao, $ per tonne
• MB-IRO-0018 Iron ore 62% Fe fines, % Fe VIU, cfr Qingdao, $ per tonne
• MB-IRO-0020 Iron ore 62% Fe fines, % Si VIU, cfr Qingdao, $ per tonne
• MB-IRO-0024 Iron ore 62% Fe fines, 0.01% P VIU, cfr Qingdao, $ per tonne
• MB-IRO-0008 Iron ore 62% Fe fines, cfr Qingdao, $ per tonne
• MB-IRO-0022 Iron ore 62% Fe fines, fot Qingdao, $ per tonne conversion
• MB-IRO-0011 Iron ore 62% Fe fines, fot Qingdao, yuan per wet tonne
• MB-IRO-0144 Iron ore 62% Fe low-alumina fines, cfr Qingdao, $ per tonne
• MB-IRO-0010 Iron ore 63% Fe Australia-origin lump ore premium, cfr Qingdao, US cents per dmtu
• MB-IRO-0012 Iron ore 65% Fe blast furnace pellet, cfr Qingdao, $ per tonne
• MB-IRO-0009 Iron ore 65% Fe Brazil-origin fines, cfr Qingdao, $ per tonne
• MB-IRO-0019 Iron ore 65% Fe fines, % Fe VIU, cfr Qingdao, $ per tonne
• MB-IRO-0013 Iron ore 66% Fe concentrate, cfr Qingdao, $ per tonne
• MB-IRO-0177 Iron ore pellet premium over 65% Fe Brazil-origin fines, cfr China, $ per tonne.
• MB-IRO-0187 Iron ore 67.5% Fe pellet feed premium, cfr Qingdao, $ per tonne.
• MB-IRO-0188 Iron ore 67.5% Fe pellet feed, cfr Qingdao, $ per tonne.

Please send responses in writing, preferably in electronic format, to the following address: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Jane Fan, re: Iron Ore Indices Methodology annual review, 2023.’ Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

Fastmarkets will publish the outcome of this methodology review by April 7, 2023, including a summary of the feedback, with the exception of those responses marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

To see all Fastmarkets’ pricing methodology and specification documents go to https://www.fastmarkets.com/about-us/methodology.