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

Effective Oct. 25, S&P Global Platts will change the implied arrival date assumed for full-month arrival seaborne iron ore cargoes to the 15th of the specified arrival month, as part of its cargo timing normalization, in the absence of specific information about the likely arrival date.

The decision recognizes the most representative arrival date amid a growing prevalence of such iron ore cargoes with arrival date specified as a whole month, and the fact that such cargoes are typically delivered evenly throughout the month, as confirmed by market participants.

Platts opened a formal proposal on Sept. 1, 2021, in a subscriber note available here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/090121-platts-proposes-changes-to-implied-delivery-date-for-cargoes-with-whole-month-arrival-in-seaborne-iron-ore-assessments

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 arrival cargoes and specific ETA cargoes.

Platts current timing for full-month arrival cargoes assumes that in backwardation the cargo will arrive in the last 10 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.

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Platts will consider all comments received and will make comments not marked as confidential available upon request.