Platts aligns decimal place rounding for Asia iron ore fines monthly averages

Platts, part of S&P Global Commodity Insights, has aligned decimal place rounding for the monthly average calculations of its Asia iron ore fines assessments. Effective July 1, Platts would round all monthly averages to two decimal places, moving calculations currently rounding to three decimal places to two decimal places.

The decision to implement the change was communicated in a subscriber note published June 1, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/060123-platts-to-align-decimal-place-rounding-for-asia-iron-ore-fines-monthly-averages

Platts first proposed the changes May 8 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/050823-platts-proposes-to-align-decimal-place-rounding-for-asia-iron-ore-fines-monthly-averages

Monthly averages for daily price assessments published in June have been the first set of averages applying this convention, which has aligned the number of decimal places for monthly averages with that of their underlying daily values.

Lump premium averages continue to be rounded off to four decimal places, in line with the corresponding daily assessments.

The alignment has resulted in a change to the following symbols:

Platts invites feedback 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.