You are focusing too much on Platts 58% IO Prices. FMG DOES NOT sell at Platts 58% prices.
FMG sell their IO at a "discount" to Platts 62% and the size of the discount will be depended on demand for their IO.
And as "margin" for Steel falling, the demand for FMG's IO will be increasing.
DYOR.
Frank.
Iron ore price, page-5803
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