Platts aligns rounding off iron ore phosphorus differentials to two decimal places

Platts, part of S&P Global Commodity Insights, has rounded off its iron ore phosphorus differential per 0.01% calculation for 0.09-0.12% phosphorous range (symbol: IOPPQ00) to 2 decimal places, from 4 decimal places, effective July 3.

The daily calculation represents the arithmetic average of iron ore phosphorus differentials per 0.01% for 0.09-0.10% P (IOPPR00), 0.10-0.11% P (IOPPT00) and 0.11-0.12% P (IOPPU00) bands. The change aligns the rounding off to the two decimal places for the calculation with other Asia iron ore fines daily assessments.

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-rounding-off-iron-ore-phosphorus-differentials-to-two-decimal-places.

Platts first proposed the changes on May 8 in a subscriber note available at https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/050823-platts-proposes-to-align-rounding-for-iron-ore-phosphorus-differentials-to-two-decimal-places.

The calculation is published on fixed page 1105 of the real-time Platts Steel Alert and Platts Metals Alert, on SBB Steel Markets Daily, on Platts Dimensions Pro, in Platts Market Center and in the Platts price database.

Platts invites feedback to iodex@spglobal.com and pricegroup@spglobal.com.

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