Proposal to amend value-in-use adjustments for iron, silica, alumina and phosphorus indices: pricing notice

Fastmarkets proposes to amend the name and specifications of its indices for MB-IRO-0018 Iron ore 62% Fe fines, % Fe VIU, cfr Qingdao, MB-IRO-0019 Iron ore 65% Fe fines, % Fe VIU, cfr Qingdao, MB-IRO-0020 Iron ore 62% Fe fines, % Si VIU, cfr Qingdao, MB-IRO-0021 Iron ore 62% Fe fines, % Al2O3 VIU, cfr Qingdao and MB-IRO-0024 Iron ore 62% Fe fines, 0.01% P VIU, cfr Qingdao.

Following an initial consultation under the ongoing review of Fastmarkets’ iron ore 62% Fe fines index name and specifications, Fastmarkets is proposing changes to the name and specifications of the Fastmarkets value-in-use adjustment values.

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

MB-IRO-0018 Iron ore 61% fines, % Fe VIU, cfr Qingdao, $/tonne
Iron Value In Use adjustments (Fe -VIU)
Value of Iron Ore at X% Iron =MBIOI61 + (% Fe
difference from 61% * Fe-VIU Index)
Calculated from data in the 60-63% Fe range
Optimised range: 60-63% Fe
Data history from: July 2012

MB-IRO-0019 Iron ore 65% Fe fines, % Fe VIU, cfr Qingdao $/tonne
Value of Iron Ore at X% Iron =MBIOI-65-BZ + (% Fe
difference from 65% * 65 Fe -VIU Index)
Calculated from data in the 63.5-66% Fe range
Optimised range: 63.5-66% Fe
Data history from January 2015

MB-IRO-0020Iron ore fines, Si VIU, cfr Qingdao, $/tonne
Silica Value In Use adjustments (Si-VIU)
Value of Iron Ore at X% Silica= MBIOI61 + (% Si
difference from 4% * Si-VIU Index)
Calculated from data in the 60% -63% Fe range
Optimised range: 3.5-9.0%
Data history from December 2013

MB-IRO-0021Iron ore fines, Al2O3 VIU, cfr Qingdao, $/tonne
Alumina Value In Use adjustments (AI-VIU)
Value of Iron Ore at X% Alumina= MBIOI61 + (% Al
difference from 2.3% * Al-VIU Index)
Calculated from data in the 60.0% -63% Fe range
Optimised range: 1.0-3.5%
Data history from November 2014

MB-IRO-0024Iron ore fines, P VIU, cfr Qingdao, $/tonne
Phosphorous Value In Use adjustments (P-VIU)
Value of Iron Ore at X% Phosphorus= MBIOI61 +
(0.01% P difference from 0.10% * P-VIU Index)
Calculated from data included in the MBIOI-61
Optimised range: 0.04-0.13% P
Data history from October 2015

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

The consultation period for this proposed amendment starts from May 5 and will end on June 3. The amendment will then take place, subject to market feedback, on June 9.

To provide feedback on the proposal or if you would like to provide price information by becoming a data submitter to the index, please email pricing@fastmarkets.com. Please add the subject heading “FAO: Norman Fong, re: Iron ore VIUs.”

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.

What to read next
The MB-AL-0408 aluminium low-carbon differential P1020A, cif Mexico was published at 3:02pm London time on May 20 instead of the scheduled time of 3-4pm on May 27. The erroneous price has been removed from Fastmarkets’ pricing database. The price will next be published on May 27 at its usual time. This price is a part of the Fastmarkets […]
Fastmarkets invited feedback from the industry on the pricing methodology for its global soybean prices, via an open consultation process between April 15 and May 10, 2025. This consultation was done as part of our annual methodology review process.
Due to the Commemoration of Atatürk, Youth and Sports Day on Monday May 19, these prices will be published instead on May 20, in accordance with Fastmarkets’ policy. This change was not initially noted on Fastmarkets’ 2025 pricing schedule. The pricing schedule has now been updated. The affected prices are:MB-STE-0093 steel scrap, auto bundle scrap, […]
Fastmarkets proposes to launch Nordic sawn timber export prices for selected European markets and grades, while discontinuing the PIX Sawn Timber FAS Finland indices. The PIX sawn timber FAS Finland indices have not been widely adopted by the industry and the new price assessments will offer more end-market-specific data for major European markets and will […]
To increase transparency, Fastmarkets has further clarified how it handles price movements during periods of low liquidity. Factors that Fastmarkets may consider during times of low liquidity include, but are not limited to: market fundamentals such as changes in inventory levels, shipments, operating rates and export volumes; relative fundamentals of similar commodities in the same […]
Fastmarkets invited feedback from the industry on the pricing methodology for PIX Packaging GCC indices via an open consultation process between April 16 and May 14, 2025. This consultation was done as part of our published annual methodology review process. Full details of the prices covered by this consultation can be found here. No feedback […]