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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 pricing@fastmarkets.com. 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 https://www.fastmarkets.com/about-us/methodology.