SMM launches iron ore port price indices

SHANGHAI, May 2 (SMM) - Shanghai Metals Market and its new price index business Metals Market Index (MMi) will launch three iron ore port indices on Wednesday May 2 as port prices continued to gain importance in pricing the steelmaking raw material.

The three indices will be published daily at 5:30pm Singapore time and can be accessed through SMM website and app.

The three indices are as follows:

IOPI62 - 62% Fe fines iron ore port index FOT Qingdao (inc. 16% VAT) yuan/wmt

IOPI58 - 58% Fe fines iron ore port index FOT Qingdao (inc. 16% VAT) yuan/wmt

IOPI65 - 65% Fe fines iron ore port index FOT Qingdao (inc. 16% VAT) yuan/wmt

Additional information including iron ore port inventories, key steel market indicators, market commentaries and the equivalent CFR Qingdao prices on a $/mt basis will also be published from May 3.

The publication of the indices is in response to an evolving market in need for an alternative to iron ore pricing.  

Please contact jarek@smm.cn if you’d like to secure a daily copy of SMM/MMi iron ore report.  

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