SUBSCRIBER NOTE: Platts to launch brand assessment for 57% Fe Yandi iron ore fines

S&P Global Platts to launch a daily spot 57% Fe Yandi Iron Ore Fines brand assessment on CFR Qingdao basis from March 1, 2019.

This planned launch comes on the back of a period of market consultation that began on January 3, 2019. Platts received positive market feedback to the proposal. Market participants stated that launching a Yandi Fines brand assessment would be beneficial for the Iron Ore market. This comes on the back of regular and increasing demand from market participants for a 57% Fe Yandi Iron Ore Fines brand assessment.

Platts will assess the brands timestamped to 5.30 pm Singapore/Beijing time on a daily basis. Platts will take into account the typical specifications of the brand in determining these assessments and will make these available upon request.

Platts will assess the fixed and floating price brand assessments based on transactional information collected throughout the day from active market participants across the supply chain.

MONTHLY ROLL: The floating price brand assessments will be calculated from the fixed price assessments, using the swaps forward curve. Platts will use the following mechanism for the floating price assessments: the monthly swap value used as the basis of the floating price assessments, which will roll on the first business day of the month. The swap value used would therefore always be M+1.

Here is an example of how this will work in practice: The date is March 7, 2019. Platts will use the April swap assessment value as the basis of the floating price brand differentials. On April 1, 2019, Platts will start to use May swap value as the basis of the floating price brand differentials.

Please send any questions and feedback 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.