The correct values on these occasions were those published in the Fastmarkets Price Book and distributed via the Excel Add-In.
In the course of consolidating our databases, Fastmarkets identified three instances of mismatched prices between the Excel historical file downloadable from mbironoreindex.com and the historical data shown in Price Book and Fastmarkets’ Excel Add-In. These errors were due to errors in manual data entry. A technical automation solution has since been implemented to avoid such misalignments in the future.
The dates and indices affected are as follows:
- February 29, 2016 - MBIOI-LP: The correct price was 13 cents per dmtu
- August 1, 2016 - MBIOI-Al-VIU: The correct price was -$0.60 per tonne per percentage point
- October 12, 2016 - MBIOI-65-BZ: The correct price was $65.50 per tonne
- May 28, 2018 - MBIOI-PBF-DIFF: The correct price was -$0.70 per tonne
In all cases, the prices published in the Excel historical file that is downloadable from mbironoreindex.com have now been changed to match the correct prices published in the Price Book and via Fastmarkets’ Excel Add-In.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Peter Hannah by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Peter Hannah, re: Fastmarkets MB Iron Ore Index.’
To see all Fastmarkets’ pricing methodology and specification documents, please go to www.fastmarkets.com/about-us/methodology.
