Sorry I missed your post, the Global Cost Curve that FMG presented does not include Grades, as discounts varies day to day, like FMG, it gets between 10%-30% through out the year.
It's "Total delivered cost" so exclude interest payments plus D&A.
Last half yearly that was US$22 / wmt. All in cost was US$32 / wmt.
Miners don't work for nothing, so it's hard to see IO prices goes under US$50 / dmt really.
Indian IOs has been decreased since mid March, and it's funny you now get news article saying "tighter supply" as a reason for rise in IO futures, hehe.
More "funds" have come into SR, IO and Coke, the best 3 performers on Chinese Future today!!
DYOR.
Frank.
Iron ore price, page-1366
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