62% Australian Fines Index
Mysteel assessed the SEADEX 62% Australian Fines Index at $95.30/dmt CFR Qingdao, down $1.00/dmt from Tuesday.
One transaction, five bids and seven offers were observed for a total volume of 1.81 million tonnes.
The volume of transaction, bids and offers ranged from 90,000 tonnes to 170,000 tonnes.
The bids and offers ranged from $94.72/dmt to $95.64/dmt, normalized for delivery timing and quality, with a mean average of $95.24/dmt.
Three samples were excluded today as two samples were out of the typical delivery window and one was over two standard deviations away from the mean when considered with all data submitted today. The standard methodology applied today was based on 60% transactions, 20% tradeable values, 10% bids and 10% offers. No expert judgement was applied today.
Mysteel assessed the SEADEX 62% Fe Low Alumina Index at $97.00/dmt CFR Qingdao, down $1.20/dmt from Tuesday.
BRBF was heard tradeable at a premium of $2.90/dmt over February average index, normalized at $97.00/dmt.
The standard methodology applied today was determined utilizing market survey and tradeable value. No expert judgement was applied today.
62.5% Lump Premium Index
Mysteel assessed the 62.5% Lump Premium Index at $0.2475/dmtu CFR Qingdao, held flat from Tuesday.
There was no sample observed in the market. The standard methodology applied today was determined utilizing market survey and SGX swap. No expert judgement was applied today.
Fixed Brand Assessments
PBF (61.00% Fe)
Mysteel assessed 61% Fe PBF at $93.80/dmt CFR Qingdao, down $0.95/dmt from Tuesday.
Five bids and five offers were observed for a total volume of 1.51 million tonnes.
The volume of bids and offers ranged from 100,000 tonnes to 170,000 tonnes.
The bids and offers ranged from $93.39/dmt to $94.19/dmt, normalized for delivery timing and quality, with a mean average of $93.84/dmt.
Two samples were excluded today as one was out of the typical delivery window and the other was over two standard deviations away from the mean when considered with all data submitted today. 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 $95.55/dmt CFR Qingdao, down $0.95/dmt from Tuesday.
90,000 tonnes of NHGF was traded at a premium of $0.80/dmt over February average index, laycan 1-10 February.
The standard methodology applied today was based on the market survey and the transaction. No expert judgement was applied today.
JMBF (59.50% Fe)
Mysteel assessed 59.50% Fe JMBF at $80.80/dmt CFR Qingdao, down $0.95/dmt from Tuesday, maintaining the spread with PBF.
There was no sample observed in the market. The standard methodology applied today was determined utilizing market survey and the spread relationship to PBF. No expert judgement was applied today.
MACF (60.80% Fe)
Mysteel assessed 60.80% Fe MACF at $89.15/dmt CFR Qingdao, down $1.00/dmt from Tuesday, maintaining the spread with 62% Australian Fines Index.
There was no sample observed in the market. The standard methodology applied today was based on the market survey and historical spread relationship to 62% Australian Fines Index. No expert judgement was applied today.
YDF (57.10% Fe)
Mysteel assessed 57.10% Fe YDF at $80.80/dmt CFR Qingdao, down $0.80/dmt from Tuesday.
Two transactions of YDF were observed for a total volume of 0.17 million tonnes.
The volume of transactions ranged from 80,000 tonnes to 90,000 tonnes.
The transactions of YDF was traded at a discount of $6.40/dmt, normalized at $80.81/dmt.
The standard methodology applied today was determined utilizing market survey and the transactions. No expert judgement was applied today.
BRBF (63.00% Fe)
Mysteel assessed 63% Fe BRBF at $98.35/dmt CFR Qingdao, down $1.20/dmt from Tuesday.
BRBF was heard tradeable at a premium of $2.90/dmt over February average index.
The standard methodology applied today was determined utilizing market survey and tradeable value. No expert judgement was applied today.
IOCJ (65.10% Fe)
Mysteel assessed 65.10% Fe IOCJ at $110.00/dmt CFR Qingdao, down $0.15/dmt from Tuesday, maintaining the spread with 65% Brazilian Fines Index.
There was no sample observed in the market. The standard methodology applied today was determined utilizing market survey and historical spread relationship to 65% Brazilian Fines Index. No expert judgement was applied today.
Floating Brand Assessments
PBF (61.00% Fe)
Mysteel assessed 61% Fe PBF floating premium at $1.10/dmt CFR Qingdao, down $0.10/dmt from Tuesday.
The premium of tradeable value, bids and offers ranged from $0.80/dmt to $1.65/dmt.
The standard methodology applied today was based on 60% tradeable values, 20% bids and 20% offers. No expert judgement was applied today.
NHGF (62.4% Fe)
Mysteel assessed 62.4% Fe NHGF floating premium at a premium of $0.80/dmt CFR Qingdao, up $0.15/dmt from Tuesday.
90,000 tonnes of NHGF was traded at a premium of $0.80/dmt over February average index, laycan 1-10 February.
The standard methodology applied today was based on the transaction. No expert judgement was applied today.
JMBF (59.50% Fe)
Mysteel assessed 59.50% Fe JMBF floating premium at a discount of $9.40/dmt CFR Qingdao, up $0.10/dmt from Tuesday.
The discount of bid and offers ranged from $8.95/dmt to $10.00/dmt.
The standard methodology applied today was based on 50% bids and 50% offers. No expert judgement was applied today.
MACF (60.80% Fe)
Mysteel assessed 60.80% Fe MAC floating premium at a discount of $2.85/dmt CFR Qingdao, held flat from Tuesday.
There was no transaction 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 $6.40/dmt CFR Qingdao, down $0.10/dmt from Tuesday.
Two transactions of YDF were both traded at a discount of $6.40/dmt. The standard methodology applied today was determined utilizing market survey and the transactions. No expert judgement was applied today.
BRBF (63.00% Fe)
Mysteel assessed 63.00% Fe BRBF floating premium at $1.70/dmt CFR Qingdao, held flat from Tuesday.
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 $1.80/dmt CFR Qingdao, held flat from Tuesday.
There was no sample observed in the market. No expert judgement was applied today.
Written by Jesse Yang, yangdongwei@mysteel.com