iron ore lumps vs fines

Generally the lump product is richer in iron and lower in the other minerals, compared to the fines product. This established the Platts lump premium assessment as an industry benchmark and was a move welcomed by most market participants, who said there was growing demand for a hedging tool for both sellers and buyers as the spot lump market matures.The Iron Ore Guide contains the primary specifications and methodologies for Platts Iron Ore global catalogue of price assessments. The grade differences between lump and fines, added with the lump percentage, are known as the ‘lump algorithm’. As-mined iron ore contains lumps of varying size, the biggest being more than 1 metre (40 inches) across and the smallest about 1 millimetre (0.04 inch). if the 5th attempt fails, the account will be locked for 30 minutesYou already have an account, Please log in or reset password[Yes] I would like to receive S&P Global Platts promotional emails. This established the Platts lump premium assessment as an industry benchmark and was a move welcomed by most market participants, who said there was growing demand for a hedging tool for both sellers and buyers as the spot lump market matures.The Platts spot iron ore lump premium assessment (IOCLP00) is of the premium a lump cargo commands over the price of fines as defined by the Platts 62% Fe Iron Ore Index, or IODEX. For more information email: IODEX@spglobal.com.The Iron Ore Timing and Increment Guidelines are designed to enhance the clarity and usefulness of the iron ore methodology and specifications guides, by providing additional details about participation in the Market on Close process.Platts Metals Alert is an online platform providing real-time news, bids, offers and trades as well as end-of-day prices for today's metals markets.

The lump products are richer in iron and lower in the other impurities in comparison with the fines product.

The Platts lump premium assessments reflect the tradable price of iron ore lump brands that are most widely traded in the market.With spot lump transactions seeing increased liquidity of late, the use of the Platts lump premium assessments has also grown.

KOLKATA: NMDC, the country's largest iron ore miner, has decided to cut down prices of its lump ore and iron ore fines. While lump ore prices has been reduced from Rs 3,100 to Rs 2900 per tonne, a 9.6% reduction while that of iron ore fines have been fixed at Rs 2660 per tonne from Rs 2860 earlier, a 7% reduction. The country's gold miners have traded at a discount to their global peers for years.

The price of iron ore reversed recent gains on Monday amid On Monday the benchmark 62% Fe import price including freight and insurance at the Chinese port of Tianjin slid 1.7% to $57.50 a tonne, retreating from a 10-week high hit last week according to data provided by The SteelIndex.Iron ore is still trading up some 28% from record lows for the spot market hit July 8, but a near one-fifth year to date slump coming after 2014’s 47% drop in the price continues to make life difficult for all but the most cost-effective producers.Fines drive the iron ore price and it makes up the bulk of supply, but producers of so-called “lump” ore enjoy a little more breathing room.Lump ore can be loaded directly into blast furnaces and is also easier to handle during transportation and can continue to be shipped during wet seasons (liquefaction can be an issue with the shipment of iron ore fines during wet weather).China’s steelmakers have been gradually substituting domestic supply with lump from Australian, South African and South American producers that lower costs and cut pollution by reducing the need for sintering and as and low-grade domestic producers shut down.The seaborne iron ore lump market is estimated to grow to around 250 million – 300 million tonnes per annum in 2015.

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