Mysteel is launching a 62% Fe Low Alumina Index in $/dmt as part of the SEADEX suite of indices, effective today, October 22 2018. Mysteel is committed to providing Iron Ore price assessments that reflect current and evolving market trends.
The consultation period has closed and all feedback from the market has been considered and applied as appropriate. The index will be normalized against the typical specifications and calculated using the same methodology as the 62% Fe Australian Fines Index. It will consider all data, including bids, offers and trades from products in the market such as SSFT, SSFG, BRBF and to ensure liquidity.
Please send any comments to MIODEX@mysteel.com.
The specifications of the assessment are below:
Index: SEADEX 62% Fe Low Alumina Fines Index
Fe: Typical 62.0%, Min 61.0%, Max 63.5%
Silica: Typical 5.0%, Max 7.0%
Alumina: Typical 1.5%, Max 2.0%
Phosphorus: Typical 0.08%, Max 0.09%
Quantity: Min 30,000 tonnes
Granularity: 90% of cargo <10.0mm
Payment Terms: L/C at sight
Delivery Timing: within 8 weeks
UOM: US$ 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 firstname.lastname@example.org