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Index Rationale: Iron Ore December 3, 2019

62% Australian Fines Index

Mysteel assessed the SEADEX 62% Australian Fines Index at $88.10/dmt CFR Qingdao, down $0.55/dmt from Monday.

Four bids and five offers were observed for a total volume of 1.39 million tonnes.

The volume of bids and offers ranged from 100,000 tonnes to 170,000 tonnes.

The bids and offers ranged from $87.82/dmt to $88.87/dmt, normalized for delivery timing and quality, with a mean average of $88.22/dmt.

The standard methodology applied today was based on 60% tradeable values, 20% bids and 20% offers. No expert judgement was applied today.

62% Fe Low Alumina Index

Mysteel assessed the SEADEX 62% Fe Low Alumina Index at $88.10/dmt CFR Qingdao, down $0.35/dmt from Monday.

170,000 tonnes of BRBF was traded at a fixed price $88.20/dmt, laycan 30 December- 8 January in 2020.

The standard methodology applied today was based on 60% transactions, 40% tradeable values. No expert judgement was applied today.

62.5% Lump Premium Index

Mysteel assessed the 62.5% Lump Premium Index at $0.2315/dmtu CFR Qingdao, held flat from Monday.

There was no sample observed in the market. The 62.5% Lump Premium Index maintained the spread with SGX’s swap. No expert judgement was applied today.

Fixed Brand Assessments

PBF (61.00% Fe)

Mysteel assessed 61% Fe PBF at $86.90/dmt CFR Qingdao, down $0.55/dmt from Monday, maintaining the spread with PBF.

Three bids and four offers were observed for a total volume of 1.19 million tonnes.

The volume of every bid and offer was 170,000 tonnes.

The bids and offers ranged from $86.59/dmt to $87.64/dmt, normalized for delivery timing and quality, with a mean average of $86.99/dmt.

The standard methodology applied today was based on 60% tradeable values, 20% bids and 20% offers. No expert judgement was applied today.

NHGF (62.40% Fe)

Mysteel assessed 62.40% Fe NHGF at $88.20/dmt CFR Qingdao, down $0.55/dmt from Monday, maintaining the spread with 62% Australian Fines Index.

There was no sample observed in the market.

The assessment was determined utilizing market survey and historic spread relationship to 62% Australian Fines Index. No expert judgement was applied today.

JMBF (59.50% Fe)

Mysteel assessed 59.50% Fe JMBF at $75.45/dmt CFR Qingdao, down $0.55/dmt from Monday, maintaining the spread with 62% Australian Fines Index.

There was no sample observed in the market.

The assessment was determined utilizing market survey and historic spread relationship to 62% Australian Fines Index. No expert judgement was applied today.

MACF (60.80% Fe)

Mysteel assessed 60.80% Fe MACF at $84.50/dmt CFR Qingdao, down $0.55/dmt from Monday, maintaining the spread with 62% Australian Fines Index.

There was no sample observed in the market.

The assessment was determined utilizing market survey and historic spread relationship to 62% Australian Fines Index. No expert judgement was applied today.

YDF (57.10% Fe)

Mysteel assessed 57.10% Fe YDF at $73.85/dmt CFR Qingdao, down $3.20/dmt from Monday.

190,000 tonnes of YDF was traded at a discount of $5.99/dmt over January average index in 2020, laycan 23 December- 1 January in 2020. 

The assessment was determined utilizing the transaction. No expert judgement was applied today.

BRBF (63.00% Fe)

Mysteel assessed 63% Fe BRBF at $89.55/dmt CFR Qingdao, down $0.35/dmt from Monday, maintaining spread with the 62% Fe Low Alumina Index.

170,000 tonnes of BRBF was traded at a fixed price $88.20/dmt, laycan 30 December- 8 January in 2020.

The assessment was determined utilizing the transaction. No expert judgement was applied today.

IOCJ (65.10% Fe)

Mysteel assessed 65.10% Fe IOCJ at $99.90/dmt CFR Qingdao, held flat from Monday, maintaining the spread with 65% Australian Fines Index.

There was no sample observed in the market. No expert judgement was applied today.

Floating Brand Assessments

PBF (61.00% Fe)

Mysteel assessed 61% Fe PBF floating premium at $0.85/dmt CFR Qingdao, up $0.10/dmt from Monday.

The premium of the tradeable value, the bid and the offers ranged from $0.50/dmt to $1.90/dmt.

Today the standard methodology applied was based on the tradeable value, the bid and the offers. No expert judgement was applied today.

NHGF (62.4% Fe)

Mysteel assessed 62.4% Fe NHGF floating premium at a premium of $0.00/dmt CFR Qingdao, up $0.10/dmt from Monday, maintaining the spread with PBF.

There was no sample observed in the market. No expert judgement was applied today.

JMBF (59.50% Fe)

Mysteel assessed 59.50% Fe JMBF floating premium at a discount of $8.40/dmt CFR Qingdao, held flat from Monday.

There was no sample observed in the market. No expert judgement was applied today.

MACF (60.80% Fe)

Mysteel assessed 60.80% Fe MAC floating premium at a discount of $0.80/dmt CFR Qingdao, held flat from Monday.

There was no sample observed in the market. No expert judgement was applied today.

YDF (57.10% Fe)

Mysteel assessed 57.10% Fe YDF floating premium at a discount of $4.90/dmt CFR Qingdao, held flat from Monday.

There was no sample observed in the market. No expert judgement was applied today.

BRBF (63.00% Fe)

Mysteel assessed 63.00% Fe BRBF floating premium at $1.40/dmt CFR Qingdao, held flat from Monday.

There was no sample observed in the market. No expert judgement was applied today.

IOCJ (65.10% Fe)

Mysteel assessed 65.10% Fe IOCJ floating premium at $1.65/dmt CFR Qingdao, held flat from Monday.

There was no sample observed in the market. No expert judgement was applied today.


Written by Jesse Yang, yangdongwei@mysteel.com