SUBSCRIBER NOTE: Platts to publish iron ore phosphorus differential

Following industry feedback, Platts plans to publish from May 18, 2015, a daily phosphorus differential used in the normalization process for its iron ore fines assessments.

This differential will be reflective of ores within the 60-63.5%-Fe range, in line with the current "per 1% Fe differential." The differential will be monitored and updated to reflect spot market value.

This differential adjustment used in normalization will be expressed in dollars per dry metric ton for every 0.01 percentage point of phosphorus, for the range of 0.09%-0.12% phosphorus.

Platts will continue to monitor penalties and premiums for phosphorus above this level and outside of the Fe range and continue to publish this information on a case-by-case basis in market commentaries and news stories.

Platts will publish this value in the daily iron ore assessment table in SBB Steel Markets Daily on page 3 and on page MW1105 of PMA and will database the value, making it available in data products under the category SI.

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.