- Trading Screen Product Name
- Iron Ore 62% Fe Futures (Platts IODEX)
- Trading Screen Hub Name
- CFR North China
- Commodity Code
IOR
- Contract Size
1,000 dry metric tonnes
- Unit of Trading
Any multiple of 1,000 dry metric tonnes
- Currency
US Dollars and cents
- Trading Price
One cent ($ 0.01) per dry metric tonne
- Settlement Price
One tenth of one cent ($0.001) per dry metric tonne
- Minimum Price Fluctuation
One tenth of one cent ($0.001) per dry metric tonne
- Last Trading Day
Last Trading Day of the contract month
- Floating Price
In respect of daily settlement, the Floating Price will be
determined by ICE using price data from a number of sources
including spot, forward and derivative markets for both physical
and financial products.
- Final Settlement
In respect of final settlement, the Floating Price will be a price
in USD and cents per dry metric tonne based on the average of the
relevant High/Low daily quotations published by Platts within their
real-time data service “Platts Metal Alert” (PMA) under
the heading ”IODEX: 62% Fe CFR North China" subheading "IODEX
62% Fe" for each business day during the determination period.
If a Singapore public holiday should fall on what would otherwise
be the final monthly publication day, the final day's quotation
will be published on PMA on the last business day immediately prior
to the holiday at 20.00 Singapore time (12.00 GMT).
Final Settlement Time: The final published price by Platts will be
made available from 20.00 Singapore time (12:00 GMT) on the last
business day of the calendar month. If a Singapore public holiday
should fall on what would otherwise be a business day, the
publication of the final quotation will be published on PMA on the
last business day immediately prior to the Singapore holiday at
20.00 Singapore time (12.00 GMT).
- Contract Series
Up to 48 consecutive months
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
Singapore business days
- MIC Code
- IFEU
- Clearing Venues
- ICEU