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Following market consultation, Metal Bulletin announced the launch of a weekly index for 65% Fe content blast furnace pellet delivered to Qingdao on July 24, 2012.
As part of a wider review of its iron ore pricing portfolio, Metal Bulletin is proposing to use the index as a replacement for the weekly China import iron ore pellet (65-66% Fe) assessment.
The index specifications are as follows:
- Price: US$ per dry metric tonne, cfr China
- Fe content: Base 65%, Range 60% to 70%
- Silica: Base 4.5%, Maximum 6.0%
- Alumina: Base 0.4%, Maximum 0.8%
- Phosphorus: Base 0.03%, Maximum 0.05%
- Sulphur: Base 0.01%, Maximum 0.02%
- Moisture: Base 2.0%, Maximum 3.0%
- Compression strength: Base 250daN, Minimum 220daN
- Trade size: Minimum 10,000 tonnes
- Delivery port: Base Qingdao-Rizhao-Lianyungang, normalised for any Chinese mainland sea port
- Delivery period: Within eight weeks
- Payment terms: LC on sight
- Publication: Friday at midday London time
Please provide comments by September 21, 2012, to Vera Blei, Steel Editor at vblei@steelfirst.com.
