S&P Global Platts consolidates 58%-Fe iron ore CFR China coverage under single assessment

Effective Oct. 1, 2020, S&P Global Platts has completed consolidation of its 58%-Fe iron ore coverage under a single CFR China assessment by discontinuing its legacy low-alumina assessments.

Platts published the proposal on Jan. 31, 2020 in a subscriber note available here: www.spglobal.com

Description Daily code Monthly average Iron Ore 58% Fe Low Alumina CFR North China $/DMT IONC580 IONC583 TSI Iron Ore Fines 58% Fe 1.5% Al China Imports CFR Qingdao Port TS01047 TSMBX03

The discontinuation was part of the overall revision of the Platts coverage of iron ore fines with iron content below 60%, which included a recalibration of Platts standard 58%-Fe assessment (IODFE00) in line with prevailing market specifications (www.spglobal.com). Since May 4, 2020 Platts standard 58%-Fe assessment has been reflecting iron ore fines with iron content below 60%, including brands with low content of alumina.

Platts uses Value-in-Use (VIU) assessments and observed brand relativities to normalize market information to the standard specifications. Platts also considers spreads and dynamics in the Chinese portside market as indicative factors to help calibrate, when appropriate, VIU adjustments for seaborne 58% iron ore fines assessment as well as changes to brand relativities.

The affected assessments are published on the fixed page PMA1105 and PMA1106 of the real-time Platts Metals Alert, on page 2 and 6 of the Steel Markets Daily, in the Platts Market Center and in the Platts price database under the codes mentioned above.

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

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