Iron Ore Index and Freight Rates
Metal Bulletin is pleased to announce the launch of its new daily iron ore index. This is the first index in the market place developed to aid price transparency in the iron ore spot market and enable participants in the industry to hedge the price risk that has developed in recent years. Delivered to you via the web, Metal Bulletin's iron ore index provides a daily index to the industry reflecting the constantly changing dynamics in the spot market and is based on delivered price, CFR China main port, and is normalized to 62% iron content and standard chemistry, and to a delivery point at Qingdao.
MB's iron ore index is an accurate representation of the seaborne merchant market for sinter fines delivered to China based on actual transactions, which are reported to MB by any market participant who is conducting trades on a CFR China spot basis. MB is totally impartial, and seeks to report an open and transparent representation of the market and has no financial interest in the level or direction of the index. The methodology has been developed after 18 months consultation with the industry, and provides a robust mechanism for calculating a representative price, with equal weighting from all market sectors.
The indices are based on a target specification. Material that differs from the base specification but falls within the target range is normalised to the base specification and port. The base specification has been chosen to accurately reflect the reality of the physical market. The normalisation coefficients have been developed using MB's extensive historical data and history of reporting prices in this market and weekly update freight rates.
Key features of Metal Bulletin's iron ore index:
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Daily iron ore index number and freight rates – Published online
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Independent and expert index commentary on the iron ore indec number and freight rates
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The latest iron ore, freight, finance and people news, comment and analysis – updated throughout the week on www.mbioi.com
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