Platts clarifies CFR Middle East iron ore pellet feed assessment, suspends MOC bids, offers

Platts, part of S&P Global Energy, will consider for its 67% Fe iron ore pellet feed CFR Middle East assessment (IODCA00) alternative pellet feed market information, in line with existing methodology, in view of shipping disruptions in the Strait of Hormuz.

Platts notes that iron ore shipments initially bound for the Middle East have been diverted to other regions and will assess the price of pellet feed where necessary using other available bids, offers, trades and indicative values, including with other incoterms, and normalizing to account for freight.

For full details of the methodology, please refer to the methodology guide for global iron ore, available here.

Platts has also suspended the publication of bids and offers in the CFR Middle East iron ore pellet feed Market on Close assessment process until further notice.

Platts invites comments regarding the extent and likely duration of these shipping restrictions and their impact on the market.

Please send any feedback or 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.