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25 Feb 2020 | 14:04 UTC — London
S&P Global Platts seeks feedback on its proposal to change the pricing basis for its assessment of the direct reduction (DR) grade pellet premium (IODRP00).
Platts proposes to assess the premium over 62% Fe IODEX CFR China fines assessment (IODBZ00), adjusted for specific location, basis of sale and quality to the 67.5% Fe specification.
That would mean the premium would be net of any adjustments for iron content.
Platts currently publishes the 67.5% Fe DR grade pellet assessment as a premium over a 65% Fe base, derived from the 62% Fe IODEX CFR China assessment, and adjusted for specific location and basis of sale.
The premium includes the 2.5% Fe adjustment to 67.5% Fe.
Platts plans to continue to publish this premium, based on the adjusted 62% Fe fines CFR China assessment, alongside its new DR pellet premium (link), which is based on the adjusted 65% Fe Fines CFR China assessment.
Both assessments will be published on the first business day of the month and will follow the London holiday calendar.
Both assessments will represent the value of the market-based contractual 'premium' for high quality DR-grade pellets negotiated and used as a reference in formulating a provisional contract settlement price for pellets typically sold under term contracts to steel mills, primarily in the Middle East, North Africa, and in the Americas.
Please send all comments, feedback and questions to IODEX@spglobal.com and pricegroup@spglobal.com by March 6, 2020.
For written comments, please provide 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.