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Index Rationale: Iron Ore December 5, 2019

62% Australian Fines Index

Mysteel assessed the SEADEX 62% Australian Fines Index at $88.65/dmt CFR Qingdao, held flat from Wednesday.

Two transactions, two bids and eight offers were observed for a total volume of 1.90 million tonnes.

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

The transactions, bids and offers ranged from $88.37/dmt to $89.48/dmt, normalized for delivery timing and quality, with a mean average of $88.87/dmt.

The standard methodology applied today was based on 60% transactions, 20% tradeable values, 10% bids and 10% offers. No expert judgement was applied today.

62% Fe Low Alumina Index

Mysteel assessed the SEADEX 62% Fe Low Alumina Index at $88.25/dmt CFR Qingdao, down $0.30/dmt from Wednesday.

A transaction, an offer and two bids were observed for a total volume of 680,000 tonnes.

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

The transaction, bids and offer ranged from $87.90/dmt to $89.20/dmt, normalized for delivery timing and quality, with a mean average of $88.36/dmt.

The standard methodology applied today was based on 60% transactions, 20% tradeable values, 10% bids and 10% offers. No expert judgement was applied today.

62.5% Lump Premium Index

Mysteel assessed the 62.5% Lump Premium Index at $0.2660/dmtu CFR Qingdao, up $0.0225/dmtu from Wednesday

70,000 tonnes of PBL was traded at a premium of 0.2640/dmtu over January 2020 average index, laycan 25 December- 3 January in 2020.

The standard methodology applied today was based on the transaction. No expert judgement was applied today.

Fixed Brand Assessments

PBF (61.00% Fe)

Mysteel assessed 61% Fe PBF at $87.50/dmt CFR Qingdao, up $0.05/dmt from Wednesday.

Two transactions, one bid and seven offers were observed for a total volume of 1.70 million tonnes.

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

The transactions, bid and offers ranged from $87.22/dmt to $88.32/dmt, normalized for delivery timing and quality, with a mean average of $87.72/dmt.

The standard methodology applied today was based on 60% transactions, 20% tradeable values, 10% bids and 10% offers. No expert judgement was applied today.

NHGF (62.40% Fe)

Mysteel assessed 62.40% Fe NHGF at $88.75/dmt CFR Qingdao, down $0.05/dmt from Wednesday.

A bid and an offer was observed for a total volume of 200,000 tonnes.

The volume of every bid and offer was 100,000 tonnes.

The bid and offer ranged from $88.42/dmt to $89.12/dmt, normalized for delivery timing and quality, with a mean average of $88.77/dmt.

The assessment was determined utilizing the bid and offer. No expert judgement was applied today.

JMBF (59.50% Fe)

Mysteel assessed 59.50% Fe JMBF at $76.00/dmt CFR Qingdao, held flat from Wednesday, 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 $85.45/dmt CFR Qingdao, held flat from Wednesday, 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 $74.75/dmt CFR Qingdao, held flat from Wednesday, 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.

BRBF (63.00% Fe)

Mysteel assessed 63% Fe BRBF at $89.70/dmt CFR Qingdao, down $0.30/dmt from Wednesday, maintaining spread with the 62% Fe Low Alumina Index.

170,000 tonnes of BRBF was traded at a fixed price of $88.25/dmt, laycan 2-11 January 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 $100.65/dmt CFR Qingdao, up $0.60/dmt from Wednesday, maintaining the spread with 65% Australian Fines Index.

140,000 tonnes of IOCJ was traded at a fixed price of $100.50/dmt, bill of lading date November 27.

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

Floating Brand Assessments

PBF (61.00% Fe)

Mysteel assessed 61% Fe PBF floating premium at $2.00/dmt CFR Qingdao, up $0.15/dmt from Wednesday.

The premium of the transactions, tradeable value, the bids and the offers ranged from $1.50/dmt to $2.50/dmt.

Today the standard methodology applied was based on the transactions, tradeable value, the bids 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 $1.35/dmt CFR Qingdao, held flat from Wednesday.

The premium of bid and the offer ranged from $1.00/dmt to $1.70/dmt.

Today the standard methodology applied was based on the bid and offer. 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 Wednesday

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 premium of $0.25/dmt CFR Qingdao, held flat from Wednesday.

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 $6.00/dmt CFR Qingdao, held flat from Wednesday.

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 Wednesday.

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 $1.00/dmt CFR Qingdao, held flat from Wednesday.

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


Written by Jesse Yang, yangdongwei@mysteel.com