Extension of the consultation period to amend Fastmarkets’ iron ore 62% Fe fines, fot Qingdao: pricing notice [corrected]

After assessing market feedback, Fastmarkets is extending the consultation period for its proposal to amend the name and specifications of its iron ore 62% Fe fines, fot Qingdao indices to align with the specifications for mid-grade sinter fines in China’s portside market.

The new specifications would be as follows, with amendments in italics:

MB-IRO-0011 Iron ore 62% Fe fines, fot Qingdao, yuan/wet tonne
Quality: Fe content base 61%, range 60- 63%; silica base 4.3%, max 8%; alumina base 2.5%, max 4%; phosphorus; base 0.095%, max 0.15%; sulfur base 0.02%, max 0.06%; moisture base 8%, max 10%; granularity base size >90% < 6.3mm, at least 90% 90% < 6.3mm, at least 90%
Quantity: Minimum 500 tonnes
Location: FOT Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: CNY/wet metric tonne
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Singapore time

MB-IRO-0022 Iron ore 62% Fe fines, fot Qingdao, $/tonne conversion
Quality: Fe content base 61%, range 60- 63%; silica base 4.3%, max 8%; alumina base 2.5%, max 4%; phosphorus; base 0.095%, max 0.15%; sulfur base 0.02%, max 0.06%; moisture base 8%, max 10%; granularity base size >90% < 6.3mm, at least 90% 90% < 6.3mm, at least 90%
Quantity: Minimum 500 tonnes
Location: FOT Qingdao, normalized for any Chinese mainland sea port
Timing: Within two weeks
Unit: $/wet metric tonne conversion
Payment terms: Payment at sight, other terms normalized to base
Publication: Daily at 6.30pm Singapore time

These prices are part of the Fastmarkets steelmaking raw materials package.

The extended consultation period for this proposed amendment starts from September 1 and will end on September 27, with the amendments taking place, subject to market feedback, on October 1.

To provide feedback on this index, or if you would like to provide price information by becoming a data submitter to this index, please contact by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Alice, re: 61% Fe Port Stock Price.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

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

[The headline has been amended to reflect this pricing notice is an extension to a previous consultation and in the sixth paragraph the dates for the extended consultation have been updated.]