PRICING NOTICE: Proposal to increase frequency of iron ore value-in-use indices

Fastmarkets proposes to change the frequency of its iron ore value-in-use indices from weekly to daily.

Fastmarkets’ iron ore value-in-use adjustments for iron, silica, alumina and phosphorus are currently weekly indices with a data inclusion cut-off time each Friday at 6pm Singapore local time, and a publication time each Monday at 6.30pm Singapore local time. The chemistry adjustments represent the market-implied value of individual chemistries, calculated from a regression-based analysis of the previous week’s transaction and non-transaction data.

Fastmarkets proposes to increase the publication frequency of its value-in-use indices to daily. They will be calculated and updated every Monday based on a regression analysis using the previous week’s data, before remaining flat from Tuesday to Friday. The proposed daily publication will make it easier for market participants to apply the value-in-use indices to Fastmarkets’ other daily indices. The unchanged calculation method will ensure sufficient liquidity and data points remain for a robust regression-based analysis.

The proposed increase in frequency will be applicable to following indices:

  • Iron ore 62% Fe fines, % Fe VIU, cfr Qingdao, $/tonne MB-IRO-0018
  • Iron ore 65% Fe fines, % Fe VIU, cfr Qingdao, $/tonne MB-IRO-0019
  • Iron ore 62% Fe fines, % Si VIU, cfr Qingdao, $/tonne MB-IRO-0020
  • Iron ore 62% Fe fines, % Al2O3 VIU, cfr Qingdao, $/tonne MB-IRO-0021
  • Iron ore 62% Fe fines, 0.01% P VIU, cfr Qingdao, $/tonne MB-IRO-0024

The consultation period for this proposed frequency increase starts from Monday September 13 and will end on Friday October 29. The change will take place, subject to market feedback, on Monday November 1.
To provide feedback on the content of the proposal, or if you would like to provide price information by becoming a data submitter to this price, please email pricing@fastmarkets.com. Please add the subject heading FAO: Jane Fan, re: Iron Ore Value-in-Use indices.”

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

What to read next
Shanxi, a top coal-producing province in North China which has been struggling with high levels of air pollution – is on its way to becoming a green steel leader in the country following the steps it has taken to prepare for the energy transition and to upgrade its steel industry over the past decade
Green premiums, reducing Scope 3 emissions and the quest for high-grade iron ore were among the key topics discussed at the 27th International Iron Ore forum in Stockholm
Yuriy Ryzhenkov, the chief executive officer of Metinvest Group, addressed Ukraine’s role in the future of the European steel industry, indicating that the country has the potential to become a primary supplier of direct-reduced iron (DRI) to Europe, Fastmarkets heard at Made in Steel in Milano
An overarching theme of decarbonization was on display at the Association for Iron and Steel Technology’s AISTech conference in Detroit, Michigan, among US steel industry leaders in May
Major Brazilian iron ore miner Vale’s plan for green briquette megahubs in the Middle East has sparked much curiosity and interest. In this article, we break down the fundamentals of the plan to help you understand how it will work
China has unveiled plans for achieving peak carbon emissions in the iron ore mining industry before 2030, with the state-backed Metallurgical Mines’ Association of China (MMAC) announcing green iron ore production guidelines on Friday April 7
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed