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The Fe content will be tightened from a 65-66% Fe range to 65%. Transactions within a range of 60% Fe to 70% Fe will be taken into account for the assessment and normalised to 65% using prevailing market mechanisms.
The full specification for the assessment is 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 220daN, Minimum 180daN 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 3pm London time
Please provide comments by June 27 2012 to Vera Blei, Steel Editor at vblei@metalbulletin.com.