Platts changes specifications, increases frequency, renames 64% CFR China Iron Ore Pellets assessments

S&P Global Platts has changed the specifications, increased the frequency, and renamed the 64% CFR China Iron Ore Pellets assessments, effective Jan. 3, 2022.

The updates come in response to changes in product specifications, the growth in pellet spot market liquidity, as well as industry demand for more frequent assessments. Platts opened a formal proposal on Sept. 24, 2021, in a subscriber note available here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/092421-platts-proposes-to-change-specifications-increase-frequency-and-rename-64-cfr-china-iron-ore-pellets-assessments

SPECIFICATION CHANGE: Platts has amended the specifications of its 64% Fe Iron ore spot blast furnace pellet premium CFR China assessment (IOCQS04) and 64% Fe Iron ore spot blast furnace pellet outright CFR China assessment (IOCQR04) to 63% Fe, 3% alumina, 3.5% silica, 0.07% phosphorus, 0.008% sulfur and 230 Cold Crushing Strength (CCS), from 64% Fe, 2.7% alumina, 3.5% silica, 0.08% phosphorus, 0.008% sulfur and 230 CCS currently, effective Jan. 3, 2022. The amended specifications are more closely aligned with major iron ore pellet products seen trading in the market.

ASSESSMENT FREQUENCY: The frequency of the assessments has been increased to daily, following the Singapore holiday calendar. The assessments were previously published on Wednesdays. Platts other iron ore pellet assessments are unaffected, including Iron Ore Spot Blast Furnace Pellet Premium 65% CFR China (IOBFC04), which continue to be assessed on a weekly basis, every Wednesday.

ASSESSMENT NAMES: The assessments have been renamed as Iron Ore Spot Blast Furnace Pellet Premium 63% CFR China and Iron Ore Spot Blast Furnace Pellet 63% CFR China, respectively.

The assessments that have been impacted and their respective monthly average assessments are as follows:

The affected assessments are published on the fixed page 1161 of the real-time Platts Steel Alert and Platts Metals Alert, on SBB Steel Markets Daily, in Platts Market Center and in the Platts price database.

Please send all comments, feedback and questions 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 upon request.