Fastmarkets wishes to resolve several misalignments in historical prices on its iron ore index and also align data published in the Excel file on the MB Iron Ore Index website with that published in its Price Book and Excel Add-In.
Fastmarkets has identified several data misalignments between its iron ore index histories that are available in different locations. Most of these instances originated due to a technical issue in migrating data from prior to 2014 to newer databases.
A handful of discrepancies were identified in publication dates for prices around Singapore public holidays. The databases for Fastmarkets' Price Book, Excel Add-In and MB Iron Ore Index website have been updated to fill in data where missing; to remove data where it is incorrectly showing on non-publication days; and to align publication dates for monthly prices.
Separately, index corrections made to MBIOI-62, MBIOI-58 and MBIOI-58-P on October 10, 11 & 12, 2016, were not updated on the Excel Add-In database. These have also now been updated to reflect the correct values as published in the Price Book and the MB Iron Ore Index Excel file.
On October 12, 2016, the MBIOI-65-BZ price was mistakenly corrected in the Excel Add-In database to $65.10. The correct price was $65.50 as published in the Excel file on the MB Iron Ore Index website; it has been updated accordingly.
Fastmarkets has put in place steps to avoid such instances occurring in the future.
To provide feedback on these prices or if you would like to provide price information by becoming a data submitter, please contact Barbara O'Donovan by email at
pricing@fastmarkets.com. Please add the subject heading 'FAO: Barbara O'Donovan, re: Fastmarkets MB data.'
To see all Fastmarkets' pricing methodology and specification documents, please go to
www.fastmarkets.com/about-us/methodology.