SUBSCRIBER NOTE: Platts changes specifications for Chinese 66% Fe iron ore price

Effective February 7, 2014, Platts has changed the methodology and specifications of its domestic Chinese 66% Fe iron ore concentrate price assessment to specify impurities, add normalization and increase frequency. Platts published notice of the proposed change on November 25 and sought feedback through December 31, 2013. The basis for the assessment has changed from ex-works North East China (focused on Hebei, Shangdong, Liaoning and Shanxi provinces) to delivered Tangshan City, Hebei province. The frequency of the assessment has increased to weekly from monthly. The weekly assessment represents the transactable value of iron ore concentrate prevailing at 16:30 Friday BST (Beijing Standard Time) and is published in Platts SBB Steel Markets Daily and the Platts SBB Price Analyzer. Please send any further comments, feedback and questions to Sebastian Lewis, sebastian.lewis@platts.com, and HongMei Li, hongmei.li@platts.com, with a copy to pricegroup@platts.com.