Mysteel is proposing to launch a 62% Fe Low Alumina Index in $/dmt as part of the SEADEX suite of indices, effective October 22, 2018. Mysteel is committed to providing Iron Ore price assessments that reflect current and evolving market trends.
As such market engagement conducted during August and September 2018 determined the requirement to add a 62% Fe Low Alumina price assessment to the current SEADEX suite. The index will be normalized against the typical specifications and calculated using the same methodology as the 62% Fe Australian Fines Index. It will consider all data, including bids, offers and trades from products in the market such as SSFT, SSFG, BRBF and IOC6 to ensure liquidity.
Please send all questions and feedback to MIODEX@mysteel.com by October 12, 2018. All feedback will be available on request, unless the submitter has stated comments are not to be disclosed.
The specifications of the assessment are below:
Index: SEADEX 62% Fe Low Alumina Fines Index
Fe: Typical 62.0%, Min 61.0%, Max 63.5%
Silica: Typical 5.0%, Max 7.5%
Alumina: Typical 1.5%, Max 2.0%
Phosphorus: Typical 0.08%, Max 0.09%
Quantity: Min 30,000 tonnes
Granularity: 90% of cargo <10.0mm
Payment Terms: L/C at sight
Delivery Timing: within 8 weeks
UOM: US$ per dry metric tonne ($/dmt)
Moisture: Base 8.0%, Maximum 10.0%
Publication: Daily at 6.30pm Shanghai time
By Alina Arnold, Head of Indices email@example.com