Platts has similar price to MB:
Last Q US$70.74 / dmt
Current Q around US$85 /dmt
Going back to years of Q reports from FMG, they used to refer their IO similar price to MBIO58P, they stopped that in more recent years.
From September Q 2014:
Fortescue continues to see strong demand for its ores, reflecting the value of its high quality low impurity products.
And December Q 2014:
The price spread between the 62% Platts CFR index and the 58% MBIO (P) index improved on a quarter on quarter basis reflecting an 85-90 per cent realisation.
So really FMG sells Premium 58.5% IO, this just to show how stupid one of the shorter said last week that FMG is selling a low quality IO and 62% and 58% spread is over US$24. Blackeye was right, all bs and no research.
So current different between MBIO58P and Platts 62% is about US$11 or 12.8%.
DYOR.
Frank.
Iron ore price, page-107
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