Effective March 16, 2020, S&P Global Platts has defined its lower silica differential band to reflect medium-range iron ore fines with silica (Si) content between 3-4.5%. The assessment previously reflected iron ores with less than 4.5% of silica.
The adjustment has been made in response to a lack of medium grade fines with less than 3% of silica in the market, and adds clarity to Platts lower silica differential band.
The specifications for other iron ore silica differentials remain unchanged.
Platts publishes four assessments of 1% silica differentials: three bands for medium-range ores (60-63.5% iron content), and one for ores with a 55-60% iron content. The penalties within each band are considered to be linear.
The assessment appears in SBB Steel Markets Daily, on the page PMA1105 of the Platts Metals Alert and in the Platts price database under the following code and description:
Previous Description: Iron Ore Silica Differential per 1% with 4.5%
New Description: Iron Ore Silica Differential per 1% within 3-4.5% range
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