Correction to pricing rationale of Fastmarkets’ Iron ore 62% Fe low-alumina fines

Fastmarkets has corrected the pricing rational for MB-IRO-0144 Iron ore 62% Fe low-alumina fines, cfr Qingdao, which was published incorrectly on Thursday February 3 due to an input error.

The rationale has been corrected to show that Fastmarkets’ index for iron ore 62% Fe Low Alumina fines, cfr Qingdao remained unchanged from the previous day, rather than rose by $128.8 per tonne from the previous day.
There was no change to the final price calculation for MB-IRO-0144 Iron ore 62% Fe low-alumina fines, cfr Qingdao, which was published correctly at $153.29 per tonne on Thursday.
The rationale after amendments is as below:
Fastmarkets’ index for iron ore 62% Fe Low Alumina fines, cfr Qingdao remained unchanged from the previous day. The price movement was based on the visible market activity detailed below, which was included in the index calculation according to the published methodology. In the calculation of 62% Fe Low Alumina index, judgement applied to discard indications that are at a considerable distance from consensus of other participants' indications of tradeable level. Any data received under Data Submitter Agreements or subject to a confidentiality request will not be published.
Market participants' indications for MBIOI62-LA Index (62%Fe basis):
Brazilian Blend fines: $152.99 - $154.15 per tonne CFR China;
Trades/Offers/Bids heard in the market:
No visible activity
For more information, or to provide feedback on this correction notice, or if you would like to provide price information by becoming a data submitter to this price, please contact Shaun Tan by email at: pricing@fastmarkets.com. Please add the subject heading 'FAO: Shaun Tan Re: Iron ore 62% Fe low-alumina fines'.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology
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Fastmarkets MB staff

Published

Fastmarkets MB staff

February 04, 2022

08:30 GMT

Singapore