New IODEX freight codes

The following codes were created in dispatch category FA.

Platts increased its daily iron ore assessment reporting by assessing related dry bulk freight in the main trade routes into China, from Australia, Brazil and India.

This will enable the calculation of freight netbacks to give equivalent FOB values based around our spot reference 62% Fe fines.

Daily assessment is represented by an unspecified (u) bate.

Monthly average is represented by a close (c) bate.

Assessments will be published in Steel Markets Daily and on PMA page 1106.

Launch was August 2, 2010.

DISP SYMBOL BATES DEC FREQ CURR UOM DESCRIPTION FA IONBI00 u 2 DW USD DMT IODEX NtBk FOB WIndia PMAX $/DMt FA IONBI03 c 3 MA USD DMT IODEX NtBk FOB WIndia PMAX MAvg