Agenda

8:30 Registration & coffee

9:00 Briefing commences

The iron ore market outlook

• Forecasting future demand and supply of iron ore What are the impacts of the global economic slow down?
• Update on iron ore mining volumes and what extra supply is coming to the market?
• Will new mine expansions lead to over supply?
• Changing dynamics in the global iron ore market

Why develop a price index?

• Assessing the implications of the trends towards greater industry consolidation and pricing power
• A review of industry benefits of a traded financial iron ore market
• Increased price transparency: Spot and forward
• Driven by supply-demand imbalance and the lack of a market clearing price
• The convergence of prices in China to one market clearing price
• Participation of all market players in setting prices
• Ability for producers and consumers to hedge future exposure
• Risk management opportunities for miners, traders and steel companies
• Addressing steelmakers doubts over the usability of a pricing index
• How will it take into account all the different grades and quality of iron ore?

Price index developments in the iron ore market

• How will the annual benchmark negotiation process be impacted by the development on a new pricing index?
• Forming a blueprint for evolvement
• Iron ore The new financial market
• Tracking spot prices and the value of a robust iron ore price index

The index providers - The benchmark contenders and their attributes

• A review of key milestones in the development of the index which have occurred over the past few months
• Derivative market participants - Who are they and what is happening behind the scenes in the iron ore market to bring about convergence?
• A review of the recent announcement of a price index by Metal-Bulletin, Steel Business Briefing and Platts
• Launch of an OTC paper market by Deutsche Bank & Credit Suisse
• Role of leading intermediaries in related coal and freight markets
• Investor support and intermediary interest

Market mechanics

• Liquidity and transparency What are the key components?
• Swaps, options, forward curve implications
• Cross correlation - Steel, coal, and freight derivative synergies
• Contract standards - ISDA master agreements and annex documentation
• Credit - Bilateral or centralised clearing?
• OTC v exchange based trading - Pros and cons?
• Trade execution - Voice, hybrid and electronic execution options

Market data

• Sources and reliability

Networking Function
5.00pm 6.00pm

After an intensive, information-packed day of presentations and discussions, the evening drinks reception provides the perfect opportunity to conclude your day with informal discussions, and start making and renewing acquaintances in a relaxed and friendly environment.