Fastmarkets Iron Ore Decoded 2026

Paul Lim
Managing Editor

Paul Lim is the Regional Managing Editor at Fastmarkets, where he leads a team of analysts and price reporters across Asia covering the ferrous scrap, steel, and raw materials markets. He has worked to develop insightful content about Asia's ferrous markets, including covering the rise of ferrous scrap in the region and shifting trade flows. Paul is a prominent voice on topics ranging from iron ore pricing dynamics to the decarbonisation of the steel industry, and has served as a moderator and speaker at major industry events such as the Singapore Iron Ore Forum.

Paul's expertise and editorial contributions have earned him significant recognition in the commodities journalism space. He is a Worldsteel Journalist of the Year, one of the most prestigious accolades in steel industry reporting. Upon receiving the award, he noted that his team's work reflects a deep commitment to providing subscribers with unique perspectives and the latest prices on the fast-moving ferrous complex.

He holds academic credentials from the S. Rajaratnam School of International Studies (RSIS) in Singapore, and brings a strong blend of market intelligence, editorial leadership, and industry relationships to his role at Fastmarkets.

Norman Fong
Senior Price Reporter

Norman Fong is a Senior Price Reporter at Fastmarkets, specialising in Asia steelmaking and raw materials. Based in Singapore, he covers key commodity segments including high-grade iron ore, pellet feed, and DR-grade pellets, delivering the price assessments and market intelligence that traders, mills, and industry participants rely on for decision-making.

Prior to his current role, Norman was working at Argus Media, building a solid foundation in bitumen price reporting before joining Fastmarkets.

Norman is a Summa cum Laude recipient from Singapore Management University, graduating in 2021 with a Double Major in Political Science and Public Policy & Public Administration. 

At Fastmarkets, he plays an integral role in maintaining the accuracy and transparency of price data that underpins one of the world's most active commodity markets. Norman specialises in the trade flows in the high-grade iron ore supply chain providing insights to the exciting domain of green iron ore and its role in low-carbon steelmaking. 

Alice Li
Senior Price Reporter

Alice Li is a Senior Price Reporter at Fastmarkets, based in China, where she specialises in iron ore and steelmaking raw materials across Asia. She brings a demonstrated history of working in the metals and mining sector, covering key price benchmarks that are central to the global iron ore trade. Her reporting spans a wide range of indices, including iron ore fines, concentrates, pellets, and pellet feed, and she plays a leading role in maintaining the integrity of Fastmarkets' iron ore price assessments in compliance with IOSCO principles for Price Reporting Agencies.

Beyond daily price reporting, Alice is also deeply involved in the methodological side of commodity pricing. She leads Fastmarkets' annual methodology review consultations for its iron ore indices, engaging with market participants to ensure that pricing methodologies continue to reflect the physical market under indexation.

She has covered major market themes including high-grade iron ore premiums, post-holiday restocking trends, and the outlook for steelmaking raw materials, making her a trusted source of insight for traders, mills, and investors operating in the Asia ferrous complex.

Zheng Shu Yi
Price Reporter

Zheng Shu Yi is a Price Reporter at Fastmarkets, specialising in Asia steelmaking raw materials. Based in Singapore and educated at the National University of Singapore, she covers iron ore pricing across a range of indices, including high-grade pellet feed, concentrates, and seaborne fines. She is a core member of Fastmarkets' Asia iron ore team, working closely alongside colleagues Paul Lim, Alice Li, Adele Pan and Norman Fong to deliver daily price assessments and market intelligence to subscribers across the global ferrous complex. Her reporting also extends to broader themes shaping the steel industry, including China's evolving grade preferences and the decarbonisation of steelmaking.

Beyond price reporting, Shu Yi has played an active role in developing new benchmarks for the market. She worked on the launch of a standalone premium differential index reflecting the average premium difference between magnetite and hematite materials in the 67.5% Fe pellet feed index, responding to growing demand from market participants for greater pricing transparency.

She also was part of the core team that launched new indices, such as the 61% Fe fines CFR Qingdao index, designed to track and reflect the spot price of mid-grade fines in line with the latest quality of materials commonly traded in the market. Her work reflects a strong commitment to methodological rigour and market responsiveness at one of the world's leading price reporting agencies.

Adele Pan
Price Reporter

Adele Pan is a Price Reporter at Fastmarkets, based in China, where she focuses on iron ore and steelmaking raw materials. She brings experience from previous roles at Mysteel, and Shanghai Metals Market, giving her a strong grounding in Chinese ferrous markets before joining Fastmarkets. At Mysteel, she worked as an English editor covering stainless steel and nickel-chromium markets with a focus on global trade insights, a background that has equipped her with deep familiarity with China's metals landscape and its connections to international trade flows.

At Fastmarkets, Adele plays an important role within the Asia iron ore team, covering key indices including the 61% and 62% Fe fines benchmarks as well as the 62% Fe port stock index.

She holds a Bachelor's degree in Business English from Shanghai Lixin University of Commerce, and her bilingual capabilities make her a valuable bridge between Chinese market participants and the global commodities community. Her work supports Fastmarkets' commitment to delivering transparent, IOSCO-compliant price data to subscribers across the ferrous complex.