Platts proposes to launch daily alumina, silica value-in-use differentials for high-grade iron ore

Platts, part of S&P Global Energy, proposes to launch daily alumina and silica value-in-use (VIU) differentials for high-grade iron ore, effective May 4, 2026.

The proposal responds to market demand for greater transparency in the pricing of high-grade fines and concentrates.

Platts notes that the pricing of both high-grade fines and concentrates typically reference the 65% Fe fines index, with a premium or discount to account for differences in physical, chemical and metallurgical properties from the index's basis specifications.

In reflection of this market practice, Platts proposes to assess the VIU differentials based on trades, bids, offers and other indications for fines and concentrates in relation to the 65% Fe fines assessment and its basis specifications.

The proposed differentials would reflect VIU in fines and concentrates with 63.5-70% Fe, complementing Platts existing suite of VIU differentials for medium- and low-grade fines.

The proposed differentials would be published on a CFR China basis, in US dollars per dry metric ton for every one-percentage-point increment of alumina and silica within the following ranges:

• Iron Ore Alumina Differential per 1% up to 3.5% (63.5-70% Fe Feed)
• Iron Ore Silica Differential per 1% up to 4.5% (63.5-70% Fe Feed)
• Iron Ore Silica Differential per 1% with 4.5%-8% (63.5-70% Fe Feed)

Platts would assess the differentials based on analyses of trades, bids, offers and indicative values of fines and concentrates in the seaborne spot market, and by testing and validating them via surveys with the market.

The proposed alumina and silica differentials would be published in Platts SBB Steel Markets Daily and on Platts Steel Alert page PMA/STL1105.

Please send feedback, comments, and questions to iodex@spglobal.com and pricegroup@spglobal.com by March 27.

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.