Fastmarkets MB 65% Fe iron ore index used as basis of settlement for 2019 iron ore pellet contracts, sources say

摘要

The use of Fastmarkets MB’s iron ore indices in physical contractscontinues to widen, with several market participants confirming inrecent weeks that they have settled 2019 term contracts using theFastmarkets MB 65% Fe iron ore index as the base.The moves follow the announcement from Brazilian producer Valelate last year that it was switching its pellet contracts for this year toa 65% Fe iron ore index, moving away from the previous practice ofusing a 62% Fe iron ore index as the base index for settlement ofpellet contracts.