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.

Platts to amend Asia lump iron ore methodology, publish outright values

S&P Global Platts will amend the normalization methods of the daily spot lump premium assessment (IOCLP00) and publish outright values for lump from January 2, 2020.

This decision comes on the back of a period of market consultation that began on July 31, 2019 and a proposal initiated on October 9, 2019. Market participants across the supply chain stated the amendments could provide a more reasonable corresponding structure when assessing lump premium (LP).

The amendments will include assessing the LP over a corresponding forward strip of 62% iron ore fines, and normalizing for lump physical market structure.

LP will be assessed as a differential to forward IODEX values across the 42-day delivery period defined in its assessment methodology. This value will be represented by an equivalent “strip” calculated from monthly 62% fines derivatives.

In addition, Platts will account for physical market structure in its assessment of the physical LP. In the absence of physical market structure information, Platts may consider lump derivative market structure and fines market structure.

In response to the increased prevalence of index-linked lump transactions, Platts will also start to consider index-linked price points in its LP assessment, measuring these alongside observable outright prices.

Finally, Platts will publish an outright spot price for iron ore lump on a daily basis in US dollars per dry metric ton ($/dmt), reflecting the value of lump on CFR Qingdao basis. The specifications would be aligned with the existing specifications for the lump premium assessment and reflect material with 62% iron content, 4% moisture, 3.5% silica, 1.5% alumina, 0.075% phosphorus and 0.02% sulfur.

The outright spot assessment will appear in SBB Steel Markets Daily, and Platts Metals Alert on fixed page 1117 and in the Platts price database under the following codes:

Daily code
Monthly average
Rolling monthly average
Iron Ore lump Outright Price CRF China

Please send all comments, feedback and questions to and

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.