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

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

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

Following market feedback, Platts will 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 new differentials will 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 differentials will 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 will 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 differentials were first proposed in a subscriber note published March 18, available here.

The new alumina and silica differentials will be published in Platts SBB Steel Markets Daily and on page PMA/STL1105 of Platts Metals Alert and Platts Steel Alert.

Please send feedback, comments and 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.