Metal Bulletin Launches New Iron Ore Concentrate Index

Metal Bulletin 15th October 2012 announced that it will publish a new reference price for the iron ore physical market? an Iron Ore Index, basis 66% iron content concentrates delivered Qingdao. The new Index addresses the requirement in the market for an independent and objective representation of the international iron ore concentrate spot market.

The Metal Bulletin 66% Concentrate (MBIOI-CO) utilises transaction data from miners, steel mills and traders, and also via Shanghai Steelhome. MBIOI is the world’s only iron ore index with access to such data from a major Chinese source.

The MBIOI-CO is a tonnage weighted calculation of actual physical transactions, normalised to 66% Fe, CFR Qingdao utilising the value?in?use of different grades as defined by the market, and prevailing freight rates. The Index uses highly?regarded mechanisms to balance the different sides of the market, to minimise any potential bias, and remove outliers.

Cameron Hunt, Director, MB Index, said. "The MB Concentrate Index is unique in the market, and will bring a new level of transparency and objectivity to an increasingly important market segment. A significant percentage of global capacity increases will be shipped as concentrate or pellet. The new Index reflects the commitment of MB to publishing the most objective and sophisticated representation of iron ore spot prices available to the market."

For details of the methodology and base specifications of the new concentrate Index please click here

Index Commentary

• 
  

  MBIO Index 4 January 2013; Index ends week jumping up

  
  

  Read More »

  
  


• 
  

  MBIO Index 3 January 2013; Index jumps

  
  

  Read More »

  
  

Iron Ore News

• 
  

  IMX ships 3 million tonnes of magnetite from Cairn Hill

  
  

  17 December 2012 Read More »

  
  


• 
  

  Iran’s Chador Malu raises iron ore concentrate production by 25%

  
  

  29 November 2012 Read More »

  
  


• 
  

  Seasonal demand, low inventories will boost prices in China, Morgan Stanley says

  
  

  06 December 2012 Read More »

  
  


• 
  

  Crusader gets operating license for Brazilian iron ore project

  
  

  06 December 2012 Read More »

  
  

Freight News

• 
  

  Vale losing $2-3 per tonne of iron ore due to China's ban on Valemax ships

  
  

  07 December 2012 Read More »

  
  


• 
  

  Port Hedland iron ore shipment to China down 8.3% in November

  
  

  05 December 2012 Read More »

  
  

Finance News

• 
  

  Trio join forces to create Vetria iron ore joint venture in Brazil

  
  

  05 December 2012 Read More »

  
  


• 
  

  Vale cuts R&D budget to focus on ‘higher potential’ projects

  
  

  05 December 2012 Read More »

  
  

People News

• 
  

  Brazil’s LLX announces new ceo

  
  

  30 November 2012 Read More »

  
  


• 
  

  Amsa appoints Wellhausen cfo

  
  

  29 November 2012 Read More »