PRICING NOTICE: Metal Bulletin 65% Fe pellet index to replace weekly assessment

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Following market consultation, Metal Bulletin announced the launch of a weekly index for 65% Fe content blast furnace pellet delivered to Qingdao on July 24, 2012.

As part of a wider review of its iron ore pricing portfolio, Metal Bulletin is proposing to use the index as a replacement for the weekly China import iron ore pellet (65-66% Fe) assessment.

The index specifications are as follows:

• Price: US$ per dry metric tonne, cfr China
• Fe content: Base 65%, Range 60% to 70%
• Silica: Base 4.5%, Maximum 6.0%
• Alumina: Base 0.4%, Maximum 0.8%
• Phosphorus: Base 0.03%, Maximum 0.05%
• Sulphur: Base 0.01%, Maximum 0.02%
• Moisture: Base 2.0%, Maximum 3.0%
• Compression strength: Base 250daN, Minimum 220daN
• Trade size: Minimum 10,000 tonnes
• Delivery port: Base Qingdao-Rizhao-Lianyungang, normalised for any Chinese mainland sea port
• Delivery period: Within eight weeks
• Payment terms: LC on sight
• Publication: Friday at midday London time

Please provide comments by September 21, 2012, to Vera Blei, Steel Editor at vblei@steelfirst.com.