Platts to publish fines brands differentials to IODEX

S&P Global Platts has decided to publish differentials between key iron ore fines brands and benchmark IODEX to bring further transparency to the market, effective November 1, 2019.

The differentials will be published alongside existing outright prices and floating values for these brands.

The differentials for Pilbara Blend Fines, Brazilian Blend Fines, Newman High Grade Fines, Mining Area C Fines, Jimblebar Fines and Yandi Fines will reflect a difference between outright, or “all-in” prices for these brands and the benchmark, without normalization for iron content.

For example, on September 9, IODEX [IODBZ00] was assessed at $89.1/dmt CFR Qingdao and 61%-Fe Pilbara Blend [IOPBQ00] was assessed at $90.85/dmt CFR Qingdao. The differential would be calculated at $1.75/dmt as a simple difference between the two prices.

In contrast, the floating price [IOPBS00] that was published at $3.25/dmt reflected the difference between Pilbara Blend, adjusted to 62% Fe basis, and the front-month swap.

The differentials will appear in SBB Steel Markets Daily, on Platts Metals Alert on fixed page 0140 and in the Platts price database.

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

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.