Platts launches SSF and Carajas iron ore China port stock brand assessments to complement IOPEX

Platts, part of S&P Global Commodity Insights, has launched four new daily Chinese iron ore port stock price assessments for Australian Super Special Fines (SSF) and Brazilian Iron Ore Carajas (IOCJ) fines on a free-on-truck North China and East China ports basis, effective July 3, expanding Platts existing port stock brands and complementing the recent expansion of its suite of IOPEX assessments.

The launch responds to rising traction and liquidity in the Chinese portside market and industry demand for assessments for additional grades and brands. Platts has observed significant production volume and port stocks for SSF and IOCJ, which constitute a material share of Chinese port stock trade volumes.

The new brand assessments represent the spot price of SSF and IOCJ, in Yuan/wmt, on an FOT basis, reflecting trading activity in Caofeidian and Jingtang in northern China, and Rizhao and Qingdao in eastern China. Platts may consider pricing information for SSF and IOCJ delivered to other eastern and northern ports in the assessments, after normalization to the stated location basis.

The assessment specifications are as follows:

Platts currently publishes 62% Fe iron ore port stock assessments, or IOPEX, and brand assessments of Pilbara Blend Fines and Newman High Grade Fines on an FOT basis in East and North China, and at eastern Chinese cities along the Yangtze River. IOPEX 62% assessments continue to be a marker for medium-grade iron ore fines.

The new brand assessments for SSF and IOCJ will not typically be normalized for consideration in the IOPEX 62% assessments.

The assessments consider market information reported to Platts and published through the day, including firm bids and offers, transactions and indications, as well as any other information deemed relevant to the assessment process. Full description of the Platts assessments methodology and data hierarchy can be found here: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Platts-Assessments-Methodology-Guide.pdf.

The new assessments were initially proposed May 18 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/051823-platts-proposes-ssf-and-carajas-iron-ore-china-port-stock-brand-assessments-to-complement-iopex.

The decision to implement the proposed launch was communicated in a subscriber note published June 1: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/060123-platts-to-launch-ssf-and-carajas-iron-ore-china-port-stock-brand-assessments-to-complement-iopex.

The assessments are published on fixed page 0120 of the real-time Platts Steel Alert and Platts Metals Alert, in SBB Steel Markets Daily, on Platts Dimensions Pro, in Platts Market Center and in the Platts price database.

Please send comments and questions to IODEX@spglobal.com and pricegroup@spglobal.com.

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