Effective Dec.1, 2021, S&P Global Platts will publish the daily physical structure of its iron ore fines benchmark assessment IODEX 62%-Fe CFR China (IODBZ00).
This value represents the average daily contango or backwardation for physical cargoes trading within the 2-8 week delivery window of Platts iron ore fines assessments. This value is used by Platts to normalize cargo delivery timings to Platts standards.
The new assessment aims to bring further transparency to the IODEX benchmark assessment. Platts opened a formal proposal on Sept. 1, 2021, in a subscriber note available here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/090121-s-p-global-platts-proposes-to-publish-iron-ore-physical-structure-applied-to-iodex-assessment.
The physical structure may not always be linear, and this assessment represents the average structure across the 2-8 week delivery window.
The assessment has been published on the fixed page 1105 of the real-time Platts Steel Alert and Platts Metals Alert, on page 20 of SBB Steel Markets Daily, in Platts Market Center and in the Platts price database, under the following symbols:
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