Following industry feedback, Platts plans to discontinue publication of the daily 63.5/63% Fe Iron Ore price assessment (IODSC00), effective June 1, 2016.
The market typically prices spot cargoes, which are reflected in Platts 63.5/63% Fe assessment, utilizing the benchmark 62% Fe Iron Ore Index as a base, so that the 63.5/63% Fe is no longer a discrete assessment, price or reference. As a result the assessment has become an implied value derived from Platts IODEX 62%Fe assessment.
The intention is to make May 31, 2016, the last date this assessment is published. This is in order to allow for any utilization of the assessment in current contracts, settlement and/or royalty payments to run its course.
Effective Date: June 01, 2016