Platts to publish iron ore physical structure applied to IODEX assessment from Dec 1

Effective Dec.1, 2021, S&P Global Platts will publish the daily physical structure of its iron ore fines benchmark assessment IODEX 62%-Fe CFR China (IODBZ00). This value represents the average daily contango or backwardation for physical cargoes trading within the 2-8 week delivery window of Platts iron ore fines assessments. This value is used by Platts to normalize cargo delivery timings to Platts standards.

The decision aims to bring further transparency to the IODEX benchmark assessment. The physical structure value is assessed daily by analyzing and comparing price points with differing delivery timings, and through a survey of 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-s-p-global-platts-proposes-to-publish-iron-ore-physical-structure-applied-to-iodex-assessment. Platts currently publishes details of its iron ore physical structure in the relevant iron ore rationale (page 1109). The decision will make this an official assessment with its own symbol and searchable history.

The physical structure may not always be linear, and this assessment will always represent the average structure across the 2-8 week delivery window.

The assessment will be published on the fixed page 1105 of the real-time Platts Steel Alert and Platts Metals Alert, on page 20 of SBB Steel Markets Daily, in Platts Market Center 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.