Platts proposes changes to implied delivery date for cargoes with whole-month arrival in seaborne iron ore assessments

S&P Global Platts proposes that for full-month arrival seaborne iron ore cargoes, and in the absence of specific information about the likely arrival date, Platts will assume an implied arrival date as the 15th of the specified arrival month, as part of its cargo timing normalization.

This timing assumption reflects the fact that such cargoes are typically delivered evenly throughout the month, as confirmed by market participants. The proposal follows inquiries by market participants on the use of the most representative arrival date amid a growing prevalence of such iron ore cargoes with arrival date specified as a whole month, and consultation with a wide number of market participants. Platts will continue to monitor typical arrival dates of such cargoes and review assumed delivery dates accordingly. Platts will also consider the price difference between full-month cargoes and specific ETA cargoes.

Platts current timing for full-month arrival cargoes is that in backwardation the cargo will arrive in the last ten days of the month, and in contango the first 10 days of the month.

Please send all comments, feedback and questions to IODEX@spglobal.com and pricegroup@spglobal.com. Please send comments and feedback by September 17, 2021

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