in fact, the pellet premium is odd...
MGX product is supposedly 65%Fe. as is GRR. For the qtr 30 June 2023, MGX FOB ex Koolan was US$103/t; GRR"S is US$108... at face value a pellet premium of US$5. And I suppose the list of possible reasons will look like:
1. freight costs;
2. timing of adjustments (and possibly MGX is ignoring them...)
Regardless, the sticky downwards pellet premium is not helpful ... might have been a stunning qtr if that premium was a little closer to costs...
Quarterly predictions, page-816
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