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

Effective October 25, Platts has changed 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 change aims to use the most representative implied arrival date for iron ore cargoes with arrival date specified as a whole month, given 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 continues to monitor typical arrival dates of such cargoes and review assumed delivery dates accordingly. Platts also considers the price difference between full-month arrival cargoes and specific ETA cargoes.

Prior to the change, Platts timing for full-month arrival cargoes assumed that in backwardation the cargo would 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.

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