.
Cheers Frank
Just picked a random date being 26 Jan 18 and RMB 350 = USD 55 at the FX rate on that day.
The spot was USD 75.99 at the time, which would equate to a discount of around 27%.
I understand there are factors as you mentioned but comparing apples with apples between the two dates, the discount for PB fines was 27% back in late Jan and 20% using yesterday's date. Even assuming moisture penalties, taxes, holding costs etc are all constant, there is still about a 70 basis point improvement since late Jan 18.
Would that seem right?
Cheers
Iron ore price, page-7502
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