SUBSCRIBER NOTE: Platts proposes to discontinue quarterly iron ore lump contract price

Following industry feedback, Platts proposes to discontinue publication of the quarterly Australia Lump Premium Contract Price (IOPLC00) by September 30, 2014. As Platts reported on April 25, most lump term contracts between Chinese mills and Australian iron ore producers have shifted to being priced based on the average of the Platts Spot Lump Premium (IOCLP00), rather than negotiated on a quarterly basis. Market participants have provided feedback that a quarterly lump contract price is no longer representative and does not serve as an industry reference. Should the discontinuation be finalized after industry consultation, Q2 2014 will be the final quarter for which a value for IOPLC00 is published. Please send all questions and feedback to iodex@platts.com and pricegroup@platts.com by August 1, 2014. 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.