Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

High Court in London supports the right to publish FMG iron ore discounts

Commodities | Agriculture | Grains | Energy | Electric Power | LNG | Natural Gas | Oil | Crude Oil | Metals | Coronavirus

Market Movers Americas, June 29-July 3: Rig count rises, but pandemic continues to pressure US commodities

Electric Power

Platts M2MS-Power

Energy | Electric Power | Electric Power Risk

Nodal Trader Conference, 13th Annual


China alumina prices to pick up in Q3 on increasing demand: S&P Global Platts Outlook

High Court in London supports the right to publish FMG iron ore discounts

New York — The High Court of England and Wales in London on May 22 lifted an interim injunction on the reporting of Fortescue Metals Group's iron ore price discounts by price reporting agencies S&P Global Platts and Argus Media.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

In a concluding paragraph, Justice Miles said he was dismissing Fortescue's "application for a continuation of the interim restraining order" as "claimants have not established, as required by s.12 of the (Human Rights Act), that they are more likely than not to obtain a permanent injunction at trial."

"The Defendants submit that there is a public interest in the provision of information about the iron ore markets. They argue in summary as follows. The Claimants are the largest producers of lower grade iron ores and one of the four largest producers of iron ores in the world. This is a hugely important market. In contrast to the spot market, which constitutes about 15% of total iron ore markets, the [long term contract] market is comparatively opaque," Justice Miles said.

He said the iron ore market was of "enormous economic and strategic importance, second only to the oil markets."

"There is in my view an important and weighty public interest in the provision of well-informed analysis and data by publications such as those of the Defendants about the iron ore markets," he said.

S&P Global Inc. (SPGI), the owner of Platts -- on April 29 filed for an injunction in the US District Court for the Southern District of New York against a court order obtained by Fortescue and its wholly owned subsidiary Chichester in the High Court of England and Wales on April 24, which forbid SPGI to publish information on the Perth-based miner's iron ore price discounts. The data is generally considered relevant to market transparency.

In its January-March quarter operations report on April 30, FMG said its iron ore sales achieved an average of $72.69/dmt, which represented 82% of the Platts 62% CFR Index average price of $89.00/dmt CFR China in the quarter.