S&P Global Commodity Insights Launches World's First Daily Carbon-Accounted Iron Ore Price Assessments
Rhea-AI Summary
S&P Global Commodity Insights, through its Platts division, is launching the world's first daily carbon-accounted iron ore price assessments on September 30, 2024. This new offering includes:
- A daily carbon-accounted iron ore assessment incorporating the Platts global benchmark 62% Fe iron ore index (IODEX)
- A carbon intensity premium reflecting the cost of offsetting greenhouse gas emissions in mining and transportation
- Carbon intensity estimates for the iron ore supply chain
The launch aims to support the steel industry's decarbonization efforts and meet evolving regulatory requirements. This initiative complements Platts' existing Carbon-Accounted Steel Premium (CASP) offerings and addresses the significant carbon footprint of iron and steel production, which accounts for nearly 7% of global greenhouse gas emissions.
Positive
- Launch of world's first daily carbon-accounted iron ore price assessments
- Addresses growing informational needs for steel industry's decarbonization efforts
- Complements existing Carbon-Accounted Steel Premium (CASP) offerings
- Provides critical context for carbon footprint in iron ore supply chain
Negative
- None.
News Market Reaction
On the day this news was published, SPGI declined 0.64%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New assessment enables market to quantify carbon emissions further up the steelmaking value chain in line with evolving reporting and regulatory requirements
The new carbon intensity series features a daily carbon-accounted iron ore assessment incorporating Platts global benchmark
The Platts IODEX Carbon Intensity Premium reflects carbon intensities of the mining, inland transportation, loading, and shipping of iron ore from key ports in
Carbon-Accounted IODEX is the sum of Platts IODEX and the IODEX Carbon Intensity Premium and marks a first such assessment for iron ore, the key ingredient used in the blast furnace-basic oxygen furnace route that accounts for more than
The launch meets growing informational needs by global steel producers, processors, end-users and traders, as they adapt to evolving regulatory and reporting requirements.
This new series complements Platts Carbon-Accounted Steel Premium (CASP) offering for finished steel, building on more than a year of CASP price history for European hot-rolled coil, and follows the September 2024 launch of world-first CASPs for rebar and medium sections.
Niki Wang, Senior Managing Editor, Iron Ore at S&P Global Commodity Insights commented, "We are pleased to announce the launch of Commodity Insights' first carbon intensity offering for metals, supporting the Platts IODEX global benchmark. With iron and steel production accounting for almost
"Carbon-Accounted IODEX provides critical context around the carbon footprint of transactions of the iron ore supply chain in a market that is increasingly concerned about their environmental impact," said Heather Jones, Head of Emissions Technical, Center of Emissions Excellence at S&P Global Commodity Insights. "The information it delivers is a necessary tool to help industry players better understand, track, and ultimately price carbon in their business decisions."
For more information, the subscriber note about the assessments may be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/092524-platts-to-launch-worlds-first-daily-carbon-accounted-iron-ore-assessment-iodex-carbon-intensity-premium
Access details of Platts' price assessments methodology here: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf
Platts Carbon-Accounted IODEX, IODEX Carbon Intensity Premium and carbon intensity estimates are available via S&P Global Commodity Insights products and services, including Platts Steel Alert, SBB Steel Markets Daily, Platts Connect, Platts Market Center, and the Platts price database. Platts Carbon-Accounted IODEX, IODEX Carbon Intensity Premium and carbon intensity estimates will be available from September 30 via S&P Global Commodity Insights products and services, including Platts Steel Alert, SBB Steel Markets Daily, Platts Connect, Platts Market Center, and the Platts price database.
Media Contacts:
Americas: Kathleen Tanzy + 1 917-331-4607, kathleen.tanzy@spglobal.com
EMEA: Paul Sandell + 44 (0)7816 180039, paul.sandell@spglobal.com
About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global energy and commodity markets enables our customers to make decisions with conviction and create long-term, sustainable value.
We're a trusted connector that brings together thought leaders, market participants, governments, and regulators and we create solutions that lead to progress. Vital to navigating commodity markets, our coverage includes oil and gas, power, chemicals, metals, agriculture, shipping and energy transition. Platts® products and services, including leading benchmark price assessments in the physical commodity markets, are offered through S&P Global Commodity Insights. S&P Global Commodity Insights maintains clear structural and operational separation between its price assessment activities and the other activities carried out by S&P Global Commodity Insights and the other business divisions of S&P Global.
S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodityinsights.
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SOURCE S&P Global Commodity Insights
FAQ
When will S&P Global Commodity Insights (SPGI) launch the carbon-accounted iron ore price assessments?
What does the new carbon-accounted iron ore assessment by SPGI include?
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