Iron Ore Product Group - Specifications

Physical trades with different Product Group will have different fields to be input. Please refer to the following to learn more about the fields inputs available for Iron Ore product, specifically regarding its Specifications.

1. After creating your physical trades data manually, if the Product Group selected is IRON ORE, you will be able to access the following features.

You may click on Trade followed by Physical Trades from the navigation sidebar to access the page, and click on Edit/View to enter the physical trade page to check whether the Product Group is IRON ORE.

If it is IRON ORE, you may refer to below for more information.

If not, you may change from GENERAL to IRON ORE accordingly and save the page.

2. In the same Trade>Physical Trade details page (Edit/View button under Action column), if the Product Group is IRON ORE, you may scroll down to locate the Specifications section and click on Edit button to enter the Specifications page.

Alternatively, you may also click on the Settings button (gear icon) under Action column and click on Specifications to enter the Specifications page.

3. In the Specifications page, you may choose to input new specifications data or copy the specifications data from a specific Contract No.. At the top of the specifications page, select the Contract No. and click on Copy, and the specifications data in the Spec Details table will be auto filled accordingly.

Please note that if you use the Actual Qty Link function and Actual Quantity follows either WMT or DMT data, if you enter the page to change into another Contract No.'s specifications data, the Actual Quantity will become empty and you may need to input accordingly.

Otherwise, please fill in the necessary details in the black table accordingly.

After inputting the specifications details, you may choose to allow the system to auto-fill the Actual Quantity of the trade on your behalf. Please click on Actual Qty Link and select WMT or DMT and once saved, the system will auto-fill the Actual Quantity in the trade execution page/table, which will be used to calculate positions and P/L.

[In the Physical Trade table, you may click on the Setting>Edit/View Trade Execution button to add new trade execution page to view the linked Actual Quantity and other data.]

You may choose to auto-calculate the final values for WMT, DMT, FE% and MOIS%, or manually input.

Manually Input:

a. Please fill in LOAD PORT, CIQ/CCIC and/or FINAL row accordingly. Once you input in the FINAL row, SUMMARY row will be auto-filled based on FINAL row values. The system will use SUMMARY row values as the final values.

Once you input values for all 4 items - WMT, DMT, FE% and MOIS% (can input 0), then FINAL row will be auto-filled accordingly.

This calculation formula is also applied automatically: DMT = WMT*(1-MOIS%)

If you input either two of the items, the last item will be auto-calculated. You may also manually change the item value. If you want one of the items to be auto-calculated, you have to make sure 2 items are empty first and key in one of the items for the last item to be calculated.

For example, we input WMT as 1000 and MOIS% as 1, DMT will be auto-calculated as 990. If i want MOIS% to be auto-calculated, I have to remove DMT first, and reinput DMT for MOIS% to be auto-calculated.

Please take note of the following logic:

The purpose of the SUMMARY row is to allow user to know whether values from the LOAD PORT row or FINAL row is used
If LOAD PORT row has values, SUMMARY row will be auto-filled based on LOAD PORT row values
If FINAL row has values, FINAL row values will fill up SUMMARY row by replacing LOAD PORT row values

Auto-Calculation:

You may choose to use the auto-calculation function to calculate the final values for WMT, DMT, FE% and MOIS%. The calculated values will be displayed in the FINAL row, and the SUMMARY row values will be auto-filled according to FINAL row values. SUMMARY row values will be the main/final values.

a. Please input values in LOAD PORT and/or CIQ/CCIC rows accordingly

b. Please choose which formula you will like to use, and click on Calculate button:

CIQ/CCIC: FINAL row will be auto-filled based on the inputs in CIQ/CCIC row
AVG OF LOAD PORT and CIQ/CCIC：System will auto-calculate the average of the inputs in LOAD PORT and CIQ/CCIC row and display in FINAL row

Please take note of the following logic:

The purpose of the SUMMARY row is to allow user to know whether values from the LOAD PORT row or FINAL row is used
If LOAD PORT row has values, SUMMARY row will be auto-filled based on LOAD PORT row values
If FINAL row has values, FINAL row values will fill up SUMMARY row by replacing LOAD PORT row values

After clicking on the Calculate button, FINAL row will be auto-calculated and filled based on the formula you have selected, and SUMMARY row will be auto-filled accordingly.

For example, if AVG OF LOAD PORT and CIQ/CCIC formula has been selected, the system will calculate WMT as (55,000 + 54,500)/2 = 54,750, and auto-fill FINAL and SUMMARY rows accordingly.

4. Once calculated/input, the data in the SUMMARY row will be auto-filled accordingly in the Summary section at the top of the page for easier reference.

5. Please click on the Save button on the bottom left of the page to save your data.

6. You may click on the Back button to return to the physical trade page, and the Specifications section will be auto-filled accordingly, as well as in the physical trade table.