SUBSCRIBER NOTE: Platts proposes discontinuing selected iron ore prices

(Clarifies earlier note published May 15) Platts is proposing to discontinue, effective August 16, selected iron ore price series formerly produced by Steel Business Briefing and currently published in Steel Markets Daily, The Briefing, the Price Analyzer, and Platts Market Data. The move will advance the harmonization and integration of published prices, following the Platts acquisition of SBB on July 1, 2011. The proposal also considers recent major changes in the way the market prices fines, to one based mainly on spot-price indexes; and pellet, which is determined mainly by negotiated premiums over spot price indexes of fines. Platts proposes to discontinue the following price series:

SB01095 Iron Ore Pellet 65.7% Fe Est Mthly CtrPr Brazil Exp FOB Mthly

SB01096 CVRD/Vale Carajas Fines CJF 66% Fe Jap Brazil Exp FOB Ponta Da Madeira

SB01097 CVRD/Vale Standard Sinter Feed 65% Fe Eur Brazil Exp FOB Tubarao

SB01030 BHPB Mt Newman Hi-Grd 63% Fe Fines Jap Aus Exp FOB W Aus Port

Platts also plans to discontinue the following price series:

SB01158 Indian Iron Ore 63% Fe Fines Dry China Imp CFR N China Port Wkly

Subscribers may refer to the following existing Platts daily price series in place of the above: IODSC00 IO fines Fe 63.5/63% $/dmt, CFR North China After August 16, the following codes (SB01095; SB01096; SB01097; SB01030; SB01158) will no longer be updated, but the historical data will continue to be available to customers. Please note that the proposed changes have no impact on TSI (The Steel Index) iron ore prices. TSI is a separate, specialist pricing unit owned by Platts. Detailed methodology and specifications underlying the Platts assessment can be found at: http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpe cs/ironore.pdf Please send all feedback and queries to Keith Tan, keith_tan@platts.com with a copy to iodex@platts.com and pricegroup@platts.com.