The conversion from RMB to USD is not correct, in that RMB price, there is a 17% tax. There is also some 30 RMB storage and shipping fee from port to steel mills. And also some 8-9% moisture, IO are sold base on DMT (dry), but product is WMT (wet).
As far as I know, FMG discount hasn't changed much.
DYOR.
Frank.
Iron ore price, page-7499
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