Rio Tinto to Adopt New Price Index for Iron Ore Trade with China

Wedoany.com Report-Dec.29, According to reports, Rio Tinto Group, a major global iron ore supplier, plans to adjust the pricing benchmark for its exports to China. Starting from January to February 2026, the company will replace the S&P Global Platts index, which has been in use for over a decade, with the Fastmarkets MB index as the settlement basis for relevant iron ore trades.

Rio Tinto Group has informed its Chinese clients of this change via a briefing. The company stated in the notification that details regarding final settlements and the application of the index for long-term contracts are still under negotiation. Currently, Rio Tinto has not publicly disclosed the specific reasons for this change or the scope of affected customers.

This change in the iron ore trade settlement index represents an adjustment by Rio Tinto in its related commercial arrangements. The adoption of the Fastmarkets MB index will affect the settlement methods for some future iron ore trades with China.