Is iron ore a commodity market like the others?

In iron ore paper market, unlike the daily settlement price, every monthly contract are settle at the monthly average TSI index( not Platts). And so does the options settlement. In the physical market, mainly use Platts , Metal Bulltin. read more

Reflecting the evolving dynamics of this commodity trade, in 2008 the world's largest iron ore producer Vale ordered the design and production of 19 new bulk ore carriers that would be bigger than any other previously constructed. read more

Iron ore isn’t traded like other commodities. Benchmark indices collect data every day from industry sources and calculate a "spot price" according to their methodology. As transactions between buyers and sellers can be conducted in closed-door negotiations using different currencies and ore grades, transparency and accuracy can be an issue. read more