Platts proposes to discontinue 57% Fe Yandi Fines CFR Qingdao brand assessments

Platts, part of S&P Global Commodity Insights, proposes to discontinue publishing brand assessments for 57% Fe Yandi Fines CFR Qingdao, effective July 1, 2024, considering reduced spot market activity and declining production.

Platts observed reduced spot trading volumes for Yandi Fines, with initial market feedback indicating declining utilization as a sinter feed. Spot market data published by Platts over January-November 2023 showed around a 68% year-on-year reduction in the number of Yandi trades.

According to published reports by BHP, the producer of Yandi Fines, the share of the product as part of BHP's total iron ore output fell to 8% for 2023 financial year ended June 30, down from around 15% for 2022 and 27% for 2021.

The proposed discontinuation would affect the following assessments:

Following discontinuation, any Yandi Fines information observed in the seaborne spot market would continue to be reflected in the Platts Iron Ore Fines 58% Fe CFR China assessment after normalization.

Full details of Platts iron ore specifications can be found here: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Global_Iron_Ore.pdf

The assessments are published on fixed page 0120 of the real-time Platts Steel Alert and Platts Metals Alert, in SBB Steel Markets Daily, on Platts Connect, in Platts Market Center and in the Platts price database.

Platts invites feedback on this proposal by March 25, 2024 to IODEX@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.