S&P Global Platts updates 65% Fe iron ore fines CFR China specifications

Effective Jan. 4, 2021, and as part of an overall review of its coverage of iron ore fines with more than 63.5% Fe, Platts has amended the specifications of the 65% Fe iron ore fines assessment (IOPRM00) to align them with the latest specifications seen in the high grade fines segment of the market.

Platts launched a formal proposal on Aug. 12, 2020 in a subscriber note available here: www.spglobal.com

The assessment now reflects material with 1.4% alumina, 2% silica and 0.065% phosphorus.

As part of this change, Platts now also reflects the new specifications in its 65% Fe Brazil Capesize netback price (IOFBN00). This price continues to be automatically calculated by deducting the assessed freight rate between Brazil and Qingdao for a 170,000 mt (Capesize) iron ore cargo from the 65% Fe iron ore fines CFR China assessment.

The affected assessments are published on the fixed pages 1105 and 1106 of the real-time Platts Steel Alert and Platts Metals Alert, in the 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.