PRICING NOTICE: Discontinuation of iron ore implied pellet premium to 62% Fe fines

Fastmarkets has discontinued its iron ore implied pellet premium over 62% Fe fines, cfr Qingdao, $/tonne [MB-IRO-0080].

Fastmarkets’ implied pellet premium over 62% Fe fines tracked the differential between its cfr Qingdao 65% Fe blast furnace pellet index [MB-IRO-0012] and the weekly average of its cfr Qingdao 62% Fe fines index [MB-IRO-0008].
The discontinuation of this implied premium price follows a month-long consultation that started on May 4. The majority of feedback received by Fastmarkets during the consultation period indicated agreement with the discontinuation of this price, citing the shift in most global pellet contracts toward referencing the 65% Fe fines index since 2019 as the main reason.
Fastmarkets’ implied pellet premium over the 65% Fe fines, cfr Qingdao, $/tonne [MB-IRO-0150] will continue to be published to reflect the differential between its cfr Qingdao 65% Fe blast furnace pellet index [MB-IRO-0012] and the weekly average of its cfr Qingdao 65% Fe fines index [MB-IRO-0009].
The last publication of Fastmarkets’ implied pellet premium over 62% Fe fines [MB-IRO-0080] was made last Friday May 29, and no further publications will be made.
All historical data relating to this price prior to its discontinuation will remain available in the pricing section of the Fastmarkets website. If you are affected by this price discontinuation, please contact Peter Hannah by email at: pricing@fastmarkets.com. Please add the subject heading "FAO: Peter Hannah, re: pellet premium."
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

Peter Hannah

phannah@fastmarkets.com

Published

Peter Hannah

June 01, 2020

06:12 GMT

Singapore