Following a consultation
during which favorable feedback was received, Fastmarkets is increasing the frequency of iron ore value-in-use indices from weekly to daily.
Fastmarkets’ iron ore value-in-use indices will be calculated and updated every Monday based on a regression analysis using the previous week’s data, before remaining flat from Tuesday to Friday. The proposed daily publication will make it easier for market participants to apply the value-in-use indices to Fastmarkets’ other daily indices. The unchanged calculation method will ensure sufficient liquidity and data points remain for a robust regression-based analysis.
The increase of frequency will be applicable to following indices:
- Iron ore 62% Fe fines, % Fe VIU, cfr Qingdao, $/tonne MB-IRO-0018
- Iron ore 65% Fe fines, % Fe VIU, cfr Qingdao, $/tonne MB-IRO-0019
- Iron ore 62% Fe fines, % Si VIU, cfr Qingdao, $/tonne MB-IRO-0020
- Iron ore 62% Fe fines, % Al2O3 VIU, cfr Qingdao, $/tonne MB-IRO-0021
- Iron ore 62% Fe fines, 0.01% P VIU, cfr Qingdao, $/tonne MB-IRO-0024
To provide feedback on the content of the iron ore index methodologies, or if you would like to provide price information by becoming a data submitter to this price, please email firstname.lastname@example.org with the subject heading "FAO: Jane Fan, re: Iron Ore Value-in-use indices."
To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.