Platts Iron Ore Index assessments reflect the tradeable price of iron ore at 5.30pm Singapore/Beijing time (Australia Sydney 8:30pm), and is regularly used in contract pricing.
For example, today in Beijing Iron Ore Trading Center "Corex", one contract was PB Lump, Fe content 62%, 80000wmt, delivery date: 1/1/2023~10/1/2023, price: Platts 62% for 1/1/2023~31/1/2023, +US$16.20 / dmt
Don't worry about daily Iron Ore prices, I post that so we can get a sense of IO trend, which is UP just in case you are still wondering. Macros and sentiments are what is driving the IO prices.
DYOR
Iron ore price, page-48384
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