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Fastmarkets launches two daily indices to reflect the spot price of high-grade 67.5% Fe pellet feed products sold on a CFR China basis on Wednesday February 1
After a consultation period, Fastmarkets has launched a daily iron ore 67.5% Fe pellet feed premium index to track the fixed premium quoted above Fastmarkets 65% Fe Brazil-origin fines index, and a corresponding daily iron ore 67.5% Fe pellet feed index to reflect the outright price of high-grade pellet feed products.
During the consultation period, market participants opined that transparent spot indices would be beneficial for the market because they serve as both a reference point for prices and a pricing tool for settling high-grade pellet feed product transactions.
Materials falling within the specification range detailed below can be included in the calculation of the indices and normalized to index base specifications.
The specifications of the new indices are as follows:
MB-IRO-0187: Iron ore 67.5% Fe pellet feed premium, cfr Qingdao, $/tonne
Notes: All origins. Premium quoted above Fastmarkets 65% Fe Brazil-origin fines index.
MB-IRO-0188: Iron ore 67.5% Fe pellet feed, cfr Qingdao, $/tonne
Notes: All origins.
Fastmarkets’ index methodology screens outliers and applies a quantity-weighted model to ensure that the index is the most robust in the industry. Fastmarkets has no financial interest in the level or direction of the index.
To provide feedback on this index, or if you would like to provide price information by becoming a data submitter to this index, please email pricing@fastmarkets.com with the subject heading “FAO: Jane Fan, re: 67.5% Fe Iron Ore Pellet Feed Index.”
To learn more about Fastmarkets’ pricing methodology and to view all of our specification documents, visit our methodology page.