Platts adds alumina content to DR iron ore pellet, FOB Brazil specifications

Platts, part of S&P Global Commodity Insights, has added alumina content to its direct reduction (DR) iron ore pellet contract specifications, effective July 3.

Following market feedback, Platts has updated the specifications for its 67.5% Fe DR pellet assessments to include alumina content of 0.5% in addition to the existing specification of 1.5% silica. A maximum of 2.5% alumina and silica combined is also specified. Platts is normalizing any alumina and silica combination up to 2.5% to the reference specifications of alumina 0.5% and silica of 1.5%.

The 67.5% Fe DR pellet specifications include 300 cold compression strength (CCS) and sizing over 9 mm 94%.

Platts DR pellet assessments reflect high quality, low impurity DR pellets used to produce direct-reduced iron.

The specification change applies to the following monthly DR pellet premiums and the FOB Brazil all-in price assessments for 67.5% Fe DR pellets.

• Iron Ore 67.5% Fe DR Pellet Premium (62% Fe IODEX fines basis); IODRP00
• Iron Ore 67.5% Fe DR Pellet Premium (65% Fe fines basis); IODBP00
• Iron Ore 67.5% Fe DR Pellet; (IODBU00) - cents dmtu
• Iron Ore 67.5% Fe DR Pellet; (IODBR00) - $/dmt

The assessments are published in SBB Steel Markets Daily, on the real-time Platts Steel Alert (STL) on page 1160, in Platts Dimensions Pro and in the Platts price database under the symbols mentioned above.

Platts first proposed the specification change in a subscriber note published May 2: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/050223-platts-proposes-to-add-alumina-content-to-dr-iron-ore-pellet-fob-brazil-specifications

Platts published its decision to implement the proposed change in the following subscriber note June 1, and can be accessed here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/060123-platts-to-add-alumina-content-to-dr-iron-ore-pellet-fob-brazil-specifications

Please send all comments and queries 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 on request.