Proposal to amend Fastmarkets’ iron ore 65% Fe Brazil-origin fines index specifications

Fastmarkets proposes to amend the base specifications of its iron ore 65% Fe Brazil-origin fines index to more closely align with specifications of Brazilian high-grade fines.

Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, $/tonne [MB-IRO-0009] tracks the spot prices of Brazil-origin 65% Fe iron ore fines in the CFR China spot market, with its base specifications set to match the prevailing quality of the Carajas fines product, IOCJ.

Fastmarkets proposes to amend the silica, alumina and phosphorus base specifications of the index in response to an observed change in the specifications of Carajas fines. The proposal aims to realign the index base specifications to that of the Carajas fines to ensure the index specification remains representative of the ore grade it seeks to reflect.

The proposed amendment is not anticipated to impact the index price level, as analysis suggests that any expected price impacts resulting from the change in impurity specifications balance out, that is, the rise in silica base specification is off-set by the reduction in alumina and phosphorus base specifications.

The current chemical specifications of this index are:
Fe content: Base 65%, range 63.5-66%
Silica: Base 1.7%
Alumina: Base 1.5%
Phosphorus: Base 0.08%
Sulfur: Base 0.01%
Moisture: Base 9%

The proposed new specifications would be:
Fe content: Base 65%, range 63.5-66%
Silica: Base 2.2%
Alumina: Base 1.4%
Phosphorus: Base 0.075%
Sulfur: Base 0.01%
Moisture: Base 9%

The consultation period for this proposed amendment starts from Monday April 3, 2023 and will end on Friday June 30, 2023. The amendment will then take place, subject to market feedback, on Monday January 1, 2024.

To provide feedback on the proposal, or if you would like to provide price information by becoming a data submitter to these prices, please email Please add the subject heading “FAO: Jane Fan, re: Iron Ore 65% Fe Brazil-origin fines index.”

To see all Fastmarkets’ pricing methodology and specification documents go to

What to read next
Fastmarkets will discontinue its consumer buying price assessments for machine shop turnings in the Cleveland and Pittsburgh markets effective Tuesday June 6.
Fastmarkets has decided to proceed with the launch of a new European low carbon ferro-chrome price covering material with lower chrome content.
(PIX Pulp & Paper Indices) - Following a consultation period, Fastmarkets has made a decision on its proposal to launch PIX containerboard price indices, covering the main grades testliner and fluting, in the Gulf Cooperation Council (GCC) countries on June 6.
Fastmarkets invites feedback on a proposal to increase the publication frequency of non-exchange-deliverable equivalent-grade (EQ) copper cathode premium, cif Shanghai, from once every two weeks to once every week.
The outlook for North American steel scrap prices has headed further into bearish territory ahead of June’s trade, with prices for all grades expected to fall again after a round of across-the-board decreases in May
Fastmarkets is inviting feedback on a change of publishing time for our ferro-chrome price in the Chinese domestic market as well as ferro-chrome import prices in Japan and South Korea, to 5-6pm Shanghai time from 2-3pm London time.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.