In the process of standardizing the names of its prices, Fastmarkets has found that the unit of measurement on some of its value-in-use iron ore indices was displaying incorrectly.
In the four indices listed in the table below, the unit of measure had been listed as US cents per tonne or US dollars per dry metric tonne unit (dmtu). The correct value, to which the indices have now been standardized, is US dollars per tonne, as follows:
The values for the indices that Fastmarkets has published are correct, as is the methodology underpinning the discovery of the indices. We will, however, update our price methodology documents to reflect the standardized index names.
Please click here for to see all of our lists of standardized price names ahead of their implementation on Friday July 5.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Peter Hannah by email at . Please add the subject heading FAO: Peter Hannah, re: Standardization of Fastmarkets’ iron ore indices names.
To see all Fastmarkets’ pricing methodology and specification documents, please go to https://www.fastmarkets.com/about-us/methodology.