Asset Class Navigation

Iron Ore 62% Fe, CFR North China (Platts) Futures Contract Specs

Contract Unit 500 dry metric tons
Price Quotation U.S. Dollars and cents
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Minimum Price Fluctuation $0.01 per dry metric ton
Product Code CME Globex: PIO
CME ClearPort: PIO
Clearing: PIO
Listed Contracts Current year plus the next two calendar years
Settlement Method Financially Settled
Floating Price The floating price for each contract month is equal to the average price calculated for all available price assessments published for "Iron ore fines 62% Fe - CFR China Port" for that given calendar month by Platts.
Termination Of Trading Trading terminates on the last business day of the contract month. Business days are based on the Singapore Public Holiday calendar. If the last business day of the contract month is a Singapore public holiday, the last trade date will be the business day immediately preceding the holiday.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 925
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing