Argus ICX Seaborne Update

1. Market Reporting
Consulting
Events
ICX™62pc: The Seaborne Iron Ore Index
Enhanced Argus value proposition for iron ore

2. Copyright © 2017 Argus Media group. All rights reserved.
Argus ICX™62pc iron ore index updated Dec ‘17
• Based on extensive industry consultation, Argus has
evolved its iron ore methodology, reflecting:
◦ The rise of trading screens, such as COREX, globalORE.
◦ The desires of market participants to see a more
representative, volume-weighted average index.
◦ The need for greater competition.
◦ The need for a high quality choice for companies looking
to price their ore off of a robustly underpinned index
representing whole trading day activity.

3. Copyright © 2017 Argus Media group. All rights reserved.
Public, transparent data available
• The availability of quality data from pricing screens is
fully embraced by the ICX™ 62pc methodology

4. • A volume weighted average
system has been adopted by
Argus, giving different weights
to different levels of
information.
• Platform transactions have an
elevated role.
◦ Platform trades taken at face
value.
◦ Bid and offer activity on screen
given 4X weight of non-screen
bid/offer.
Methodology in brief: a bigger role for screens
Copyright © 2017 Argus Media Ltd. All rights reserved.
E-Platform trades
Bilateral trades (100%)
Matched Platform
bids/offers (20%)
Floating deals
(10%)
Trade data
(bids and offers)
and indicative levels
Fall-back

5. Copyright © 2017 Argus Media group. All rights reserved.
The importance of trading screens
• The raised quality of information has been formally
recognised in the Argus ICX™62pc methodology.

6. Daily ICX™62pc Index Rationale
Copyright © 2017 Argus Media group. All rights reserved.
• Explains how index has been formed: normalisations,
quantity and weighting
• Highlights usage of platform data

7. Copyright notice
Copyright © 2017 Argus Media group. All rights reserved. All intellectual property rights in this presentation and the information herein are the exclusive property of
Argus and and/or its licensors and may only be used under licence from Argus. Without limiting the foregoing, by reading this presentation you agree that you will
not copy or reproduce any part of its contents (including, but not limited to, single prices or any other individual items of data) in any form or for any purpose
whatsoever without the prior written consent of Argus.
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Disclaimer
All data and other information presented (the “Data”) are provided on an “as is” basis. Argus makes no warranties, express or implied, as to the accuracy, adequacy,
timeliness, or completeness of the Data or fitness for any particular purpose. Argus shall not be liable for any loss or damage arising from any party’s reliance on the
Data and disclaims any and all liability related to or arising out of use of the Data to the full extent permissible by law.
Oscar Tarneberg
Business Development Manager, Metals Asia
Email:
Phone:
Office:
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Blog:
oscar.tarneberge@argusmedia.com
+86 13917 884 804
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http://blog.argusmedia.com
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Tim Hard
VP, Metals Asia
Email:
Phone:
Office:
Tim.hard@argusmedia.com
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Singapore