SUBSCRIBER NOTE: Platts to reflect combi cargoes in IODEX, TSI assessment process

S&P Global Platts will fully reflect combined (combi) fines cargoes in its IODEX (IODBZ00) and TSI-62% (TS01021) assessment process from June 1, 2018. Combi cargoes are a regular feature of the iron ore market and are a common trade mechanism for certain brands. Platts will reflect this combi type by normalizing each parcel to the IODEX/TSI-62% base specification, multiplying the value by the dry metric ton weight of the parcels and dividing by the total volume of the whole cargo. For example: Normalize Parcel 1 to IODEX/TSI base specification = value A Normalize Parcel 2 to IODEX/TSI base specification = value B (Value A multiplied by dry tonnage weight) + (value B multiplied by dry tonnage weight) / total dry tonnage weight of cargo = fully normalized value FINES-LUMP TYPE: There is a second commonly-traded combi type in the iron ore market: it contains a fines parcel sold in combination with a lump parcel. Platts encourages market participants to provide feedback on the potential inclusion of this combi type. Particularly, Platts requests market feedback on how such a combi type could be normalized to a full fines cargo price. Please submit any feedback, comments or questions 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.