Hi RC
Thanks for the clarification. FMG have never told us what the pre-payments shown in the accounts will have to be delivered at, so we do not know at what discount they will be delivered. That was my point. I think if instead of prepayments we use the 'discount for forward selling' we will be on the same line.
So the 9% you are quoting does reconcile to the accounts when you add the 10 to 15%
platts index.
Do you agree then that we are currently selling at a discount to platts between a range of 15% to 21%.
Appreciate your input RC
Pear
Iron Ore Price, page-3151
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