Platts proposes to update quality specifications of 63% Fe CFR China iron ore pellet assessments, effective Jan 2, 2025

Metals 05 Nov 2024 | 04:09 UTC

Platts proposes to update quality specifications of 63% Fe CFR China iron ore pellet assessments, effective Jan 2, 2025

Platts, part of S&P Global Commodity Insights, is proposing to update the quality specifications of its 63% Fe iron ore spot blast furnace pellet CFR China assessments, effective Jan. 2, 2025, to better reflect the specifications of material currently traded in the spot market.

The revised quality specifications, with higher alumina and silica content, would more closely reflect the current typical quality of 63% Fe iron ore pellets being traded in the seaborne market.

Platts has observed a change in alumina and silica content in seaborne 63% Fe iron ore pellets during the second half of 2024 and has feedback from market participants sharing the same observation.

Platts continuously reviews its assessment methodology and seeks to reflect the most up-to-date specifications observed for its market coverage.

The proposed change would see the assessments' underlying alumina specification updated to 3.5% and that for silica amended to 4%, from 3% and 3.5%, respectively.

The assessments affected and the proposed updated quality specifications are listed in the table below: