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Platts launches iron ore brands differentials to IODEX

S&P Global Platts has launched brands differentials to IODEX on November 1, 2019.

Platts is publishing these differentials alongside existing outright prices and floating values for these brands.

The differentials for Pilbara Blend Fines, Brazilian Blend Fines, Newman High Grade Fines, Mining Area C Fines, Jimblebar Fines and Yandi Fines reflect a difference between outright, or "all-in" prices for these brands and the benchmark, without normalization for iron content.

For example, on September 9, IODEX [IODBZ00] was assessed at $89.1/dry metric ton CFR Qingdao and 61%-Fe Pilbara Blend [IOPBQ00] was assessed at $90.85/dmt CFR Qingdao. The differential would be calculated at $1.75/dmt as a simple difference between the two prices.

In contrast, the floating price [IOPBS00] that was published at $3.25/dmt reflected the difference between Pilbara Blend, adjusted to 62% Fe basis, and the front-month swap.

The differentials appear in SBB Steel Markets Daily, on Platts Metals Alert on fixed page 0140 and in the Platts price database under the following codes:

Description Code Monthly average

Pilbara Blend Fines (PBF) CFR Qingdao IOPBT00 IOPBT03

Brazilian Blend Fines (BRBF) CFR Qingdao IOBBC00 IOBBC03

Newman High Grade Fines (NHGF) CFR Qingdao IONHC00 IONHC03

Mining Area C Fines (MACF) CFR Qingdao IOMAC00 IOMAC03

Jimblebar Fines (JMBF) CFR Qingdao IOJBC00 IOJBC03

57% Fe Yandi Fines (YDF) CFR Qingdao IOYFC00 IOYFC03

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