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SUBSCRIBER NOTE: Platts proposes to launch 57% Fe Yandi iron ore fines assessment

Platts has observed that liquidity of Yandi fines is increasing in the spot market, and attracting interest from various buyers including steel mills and traders. This proposal comes on the back of regular and increasing demand from market participants for a 57% Fe Yandi Iron Ore Fines Brand Assessment.

Platts would assess these brands timestamped to 5:30 pm Singapore/Beijing time (0930 GMT) on a daily basis. Platts would take into account the typical specifications of the brand in determining these assessments.

Platts seeks to reflect market practice in its assessments. Platts proposes to assess the fixed price brand assessments based on transactional information collected throughout the day from active market participants across the supply chain.

MONTHLY ROLL: Platts proposes that the floating price brand assessments be calculated from the fixed price assessments, using the swaps forward curve.

Platts further proposes to use the following mechanism for the floating price assessments: the monthly swap value used as the basis of the floating price assessments, which would roll on the first business day of the month.

The swap value used would therefore always be M+1.

Here is an example of how this would work in practice: The date is February 7. Platts would use the March swap assessment value as the basis of the floating price brand differentials. On March 1, Platts would start to use April swap value as the basis of the floating price brand differentials.

Please send all questions and feedback to and by January 24. 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.