To work out if the US$37.82 price is correct or not, let's look at last 4 Q report:
Q1: 43.8MT (w) x US$48.36 (d) = 2118
Q2: 42.2MT (w) x US$64.87 (d) = 2737
Q3: 39.6MT (w) x US$65 (d) = 2574
Q4: 44.7MT (w) x US$37.82 (d) = 1690
Total = 9119 and 170.4MT shipped, therefore realised price is US$53.52/dmt for the whole year.
In the June Q report, FMG said FY17 realised price was US$53.27/dmt.
Therefore US$37.82/dmt for last Q is "correct".
The best outcome from this Q report is that FMG still made nearly US$600M net cash for the Q with this LOW realised price.
FMG will move on from here, the worst is over, thank goodness.
DYOR.
Frank.
Iron ore price, page-2141
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