Glossary of trade terms

Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.

All topics · 133 Incoterms & trade contracts · 20 Payment & trade finance · 18 Shipping & logistics · 19 Customs, tax & compliance · 16 Quality, testing & documents · 11 Markets & pricing · 11 Plastics & polymers · 8 Metals & steel · 8 Chemicals & safety · 6 Agriculture, food & feed · 5 Energy, fuels & minerals · 4 Marine & ship supply · 3 Textiles, paper, wood & other materials · 4

A B C D E F G H I K L M N O P Q R S T U V Y

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Ore grade and iron ore (62 % Fe index)

Grade is the share of valuable metal in an ore – % Fe for iron, % Cu for copper concentrate, g/t for gold. Iron ore prices are set against the Platts/Fastmarkets “62 % Fe fines CFR China” index: 65 % Fe high-grade concentrate and pellets sell at a premium and 58 % Fe low grade at a discount. Pricing also applies penalty or premium scales for silica, alumina, phosphorus, sulphur and moisture. For concentrates, treatment and refining charges (TC/RC) and penalties for deleterious elements such as arsenic and mercury are negotiated as well.