Subscriber note: Platts to launch daily low alumina 58%-Fe iron ore assessment

Following industry feedback, Platts intends to launch on December 9, a new daily 58%-Fe iron ore price assessment. This assessment specifies low alumina 58%-Fe spot trades, containing 1.5% alumina, 5.5% silica 0.05%, phosphorus, 0.02% sulfur and 8% moisture. The assessment will be in $/dry mt, CFR main Chinese ports, normalized to Qingdao in North China. Freight differentials and FOB netbacks will be determined using prevailing market rates. The minimum cargo size will be 35,000 mt, delivered 2-8 weeks forward from date of publication; 100% payment at sight; all variations will be normalized to this standard. The assessment will run concurrently with the existing (IODFE00) Iron Ore Fines 58%-Fe daily assessment basis CFR North China with 4% alumina, as published in Steel Markets Daily, Platts Market Data, and on Platts Metals Alert page MW1105. It will also be available on the Price Analyzer. Any further questions or comments should be directed to Annalisa Jeffries, annalisa.jeffries@platts.com, and Keith Tan, keith.tan@platts.com, with a cc to pricegroup@platts.com.