Metal Bulletin 60% Fe Iranian Fines Index (MBIOI-IR)
60% Fe Iranian Fines Index (MBIOI-IR) - 22/03/2017= $82.01/tonne08/03/2017= $83.92/tonne01/03/2017= $85.85/tonne22/02/2017= $85.98/tonne15/02/2017= $82.21/tonne08/02/2017= $75.42/tonne01/02/2017= $75.92/tonne18/01/2017= $75.21/tonne11/01/2017= $71.40/tonne04/01/2017= $72.65/tonne28/12/2016= $71.40/tonne21/12/2016= $72.91/tonne14/12/2016= $74.67/tonne07/12/2016= $72.91/tonne 30/11/2016= $71.06/tonne23/11/2016= $66.49/tonne16/11/2016= $63.83/tonne09/11/2016= $61.11/tonne02/11/2016= $58.32/tonne26/10/2016= $53.30/tonne19/10/2016= $52.04/tonne11/10/2016= $51.02/tonne05/10/2016= $51.17/tonne29/09/2016= $51.17/tonne21/09/2016= $52.98/tonne14/09/2016= $52.98/tonne07/09/2016= $54.34/tonne31/08/2016= $54.86/tonne24/08/2016= $56.82/tonne17/08/2016= $56.90/tonne10/08/2016= $56.51/tonne03/08/2016= $55.38/tonne27/07/2016= $51.94/tonne20/07/2016= $50.05/tonne13/07/2016= $49.78/tonne05/07/2016= $48.61/tonne29/06/2016= $46.72/tonne22/06/2016= $45.15/tonne15/06/2016= $44.46/tonne08/06/2016= $43.76/tonne01/06/2016= $43.61/tonne25/05/2016= $47.45/tonne18/05/2016= $48.50/tonne11/05/2016= $51.92/tonne04/05/2016= $58.33/tonne27/04/2016= $60.97/tonne20/04/2016= $57.27/tonne13/04/2016= $54.50/tonne06/04/2016= $52.19/tonne30/03/2016= $52.75/tonne23/03/2016= $54.64/tonne16/03/2016= $52.26/tonne09/03/2016= $57.02/tonne02/03/2016= $47.31/tonne24/02/2016= $47.17/tonne17/02/2016= $42.84/tonne10/02/2016= $42.34/tonne03/02/2016= $40.14/tonne27/01/2016= $38.90/tonne20/01/2016= $39.71/tonne13/01/2016= $38.92/tonne06/01/2016= $39.50/tonne30/12/2015= $38.67/tonne23/12/2015= $37.44/tonne16/12/2015= $35.60/tonne09/12/2015= $38.31/tonne02/12/2015= $40.48/tonne25/11/2015= $41.16/tonne18/11/2015 = $42.95/tonne11/11/2015 = $43.85/tonne4/11/2015 = $44.39/tonne28/10/2015 = $48.97/tonne 21/10/2015 = $50.15/tonne14/10/2015 = $52.50/tonne7/10/2015 = $50.75/tonne
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The MBIOI-IR is calculated using the same methodology as Metal Bulletins other iron ore indices, which are widely used in both the physical and financial markets. The methodology is designed to meet market requirements for a fair and robust representation of the physical iron ore spot market.
Metal Bulletin collects data from all parts of the market through various channels. Data is treated confidentially and stored on secure servers, accessible if required for audit purposes. The index is based on actual transactions, although Metal Bulletin will also collect assessments, offers and bids from the market to supplement transaction data when necessary. All non-transaction data will be weighted at the minimum tonnage for the index.
Metal Bulletins unique mechanisms ensure a structurally balanced, fair and representative index price. Each data point is entered into one of three sub-indices representing producers, consumers and traders. The final price is a straight average of these sub-indices to ensure an unbiased index with equal impact from all sides of the market. Metal Bulletin also removes potential distortion with an in-built mechanism to remove outlier data points of +/- 4% away from a preliminary calculation. These outliers are automatically removed and the index recalculated.
Normalisation is the adjustment of the price of material to account for differences from our base specification, and is critical to the index. Data is normalized using an in-house developed model based on regression analysis of transaction data, allowing Metal Bulletin to capture the value-in-use applied by the market to different material and adjust to a single specification. The normalization coefficients for the index will be updated quarterly to reflect the changing nature of market dynamic over time.
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