RC, that 76% really concern me, from page 18 of last presentation announcement, I didn‘t see 62% vs 58% realisation below 80%, are you sure it happened before?
If it means FMG getting better premium at lower IO price, I would like IO to stay US$65 like Dec Q where we get 91.7% and supply is tight.
FMG at US$65 is still getting good profit and IO supply would be tight and IO inventory would be much lower.
Sentiment will be a lot better and we should see SP steadily going up as FMG accumulate cash, while more high cost producer leaving the market.
DYOR.
Frank.
Iron ore price, page-657
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