Platts to amend low end of Iron Ore Silica Differential band

Following a consultation and proposal period, S&P Global Platts has decided to amend the range of its lower Iron Ore Silica Differential per 1% band, to "within 3%-4.5% of silica," from "less than 4.5% of silica", effective March 16, 2020.

Platts launched a formal proposal on January 28, 2020 in a subscriber note available here: http://plts.co/XCVL30qiTym

The change reflects the range of feedback received.

Platts silica differentials are reflective of the value for 1% silica within the specific range stated above, for 60%-63.5% Fe iron ore fines. The adjustment is made in response to a lack of medium grade fines with less than 3% of silica in the market, and adds clarity to our lowest silica differential band. With the fact that no iron ore fines with Fe content between 60%-63.5% are observed containing silica lower than 3%, the change will not affect Platts iron ore assessments.

The silica differential per 1% assessment appears in SBB Steel Markets Daily, and Platts Metals Alert on fixed page 1105 and in the Platts price database under the following codes:

Code Current Proposed

IOALF00 Iron Ore Silica Differential per 1% with 4.5% Iron Ore Silica Differential per 1% within 3%-4.5% range

The silica range for iron ore silica differential per 1% with 4.5%-6.5% (IOPPS10) and iron ore silica differential per 1% with 6.5%-9% (IOPPS20) will remain unchanged.

Platts invites any questions and feedback about this decision 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.