S&P Global Platts is proposing to publish the daily physical structure of its iron ore fines benchmark assessment IODEX 62%-Fe CFR China (IODBZ00), effective Dec.1, 2021. This value represents the average daily contango or backwardation value for physical cargoes trading within the 2-8 week delivery window of Platts iron ore fines assessments. This value is used by Platts to normalize cargo delivery timing to Platts standard.
The proposal aims to bring further transparency to the IODEX benchmark assessment. The physical structure value is assessed daily by analyzing and comparing price points with differing delivery timing, and through a survey of market participants. Platts currently publishes details of its iron ore physical structure in the relevant iron ore rationale (page 1109). This proposal aims to make this an official assessment with its own symbol and searchable history.
The physical structure may not always be linear, and the below assessment will always represent the average structure across the 2-8 delivery window.
The assessment will be published on the fixed page 1105 of the real-time Platts Steel Alert and Platts Metals Alert, on page 20 of SBB Steel Markets Daily, in Platts Market Center and in the Platts price database.
Please send all comments, feedback and questions to IODEX (firstname.lastname@example.org) and pricegroup (email@example.com) by Oct. 5, 2021. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.
Platts will consider all comments received and will make comments not marked as confidential available upon request.