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Iron Ore Reference Prices
 | The Steel Index publishes 2 daily iron ore reference prices – one for 62% Fe content fines and one for 58% Fe content fines for Chinese Imports
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Click here for iron ore products & price specifications - China imports »
TSI monthly iron ore review - available at the end of every month to TSI subscribers. Click here for a sample copy. TSI's iron ore reference prices have become an essential tool for: | Steel mills | Miners | | Traders and brokers | Financial players |
On 1 February 2011 TSI began publishing 2 supplementary iron ore reference prices, one for 62% Fe content low alumina fines and one for 63.5/63%Fe content fines, both delivered Qingdao port, China. These additional reference prices are reported daily in TSI's iron ore document emailed to its subscribers and on-line in TSI's Price Analyser.
TSI: the index of choice
Physical Markets After the collapse of the annual fixed-price 'benchmark' mechanism in 2010, TSI's iron ore index is widely used in index-linked pricing arrangements between miners, traders and steel producers. For more information please contact TSI Head of Iron Ore Operations, Stella Wu wu@thesteelindex.com or TSI Senior Analyst ,Oscar Tarneberg o.tarneberg@thesteelindex.com. Financial markets Financial organisations throughout the world trade the iron ore Over-The-Counter (OTC) swap contracts against TSI iron ore prices. Singapore Exchange (SGX), LCH.Clearnet, CME Group, NOS Clearing and Indian Commodity Exchange (ICEX) all offer cleared monthly iron ore swap contracts using TSI's 62% Fe fines iron ore reference prices for settlement.
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How can TSI prices benefit you? To see how TSI iron ore reference prices could be of use to you, take a trial of our Global service where you will not only receive the iron ore prices listed below, but also information on port stocks, derivatives, port congestion and freight. Click here for a sample copy. You will also receive weekly steel and scrap reference prices. I would like a free trial If you buy or sell any of the iron ore products listed above, you may be eligible to contribute as a Data Provider, which provides a number of benefits. Click here for more information. Procedures and Methodology [+] The Steel Index methodology involves collecting price data based on actual transactions via secure on-line systems. Agreements are signed with companies buying and selling the relevant products throughout the supply chain. These ‘data providers’ supply their price information on a completely confidential basis, in exchange for receiving The Steel Index reference prices free-of-charge.
Calculation of the iron ore reference prices involves two principal steps: - Normalisation of the data submitted to the reference product specifications and exclusion of outliers
- Calculation of the average reference prices from the remaining normalised data
By gathering robust data based on actual transactions, The Steel Index can provide you with access to the most reliable independent reference prices available. For a more detailed description on the procedures and methodology used to compile our iron ore prices, please click here. For any other enquiries, email info@thesteelindex.com. Back to Top
*Excluding UK public holidays
Iron Ore Products and Price Specifications - China Imports Iron ore fines 62% Fe - CFR China Port [ +]
Sinter Fines: granular size below 10mm for at least 90% of the cargo, with maximum of 40% below 150 micron)
Iron content: 62.00% Fe
Moisture: 8.00%
Alumina: 3.50%
Silica: 4.00%
Phosphorus: 0.070%
Sulphur: 0.05%
Minimum lot size: 20,000 metric tonnes
Pricing Point: CFRFO Tianjin port (China)
Timing: Loading within 4 weeks of transaction
Payment: At sight
Currency and Units: US$ per dry metric tonne
Prices submitted for transactions with specifications in the following ranges will be normalised to the 62% Fe reference product:
Iron Content: 60.01% – 66.49% Fe (inclusive)
Moisture: 10.00% max
Alumina: 4.00% max
Silica: 6.00% max
Phosphorus: 0.125% max
Sulphur: 0.07% max
Pricing Point: Deliveries to other major Chinese ports will be normalised to Tianjin port
Payment: All payment terms will be normalised to ‘At sight’
Iron ore fines 58% Fe - CFR China Port [ +]
Sinter Fines: granular size below 10mm for at least 90% of the cargo, with maximum of 40% below 150 micron)
Iron content: 58.00% Fe
Moisture: 8.50%
Alumina: 3.50%
Silica: 4.00%
Phosphorus: 0.070%
Sulphur: 0.05%
Minimum lot size: 20,000 metric tonnes
Pricing Point: CFRFO Tianjin port (China)
Timing: Loading within 4 weeks of transaction
Payment: At sight
Currency and Units: US$ per dry metric tonne
Prices submitted for transactions with specifications in the following ranges will be normalised to the 58% Fe reference product:
Iron Content: 55.00% – 60.00% Fe (inclusive)
Moisture: 10.00% max
Alumina: 5.00% max
Silica: 8.00% max
Phosphorus: 0.125% max
Sulphur: 0.07% max
Pricing Point: Deliveries to other major Chinese ports will be normalised to Tianjin port
Payment: All payment terms will be normalised to ‘At sight’
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