Iron ore price, page-31842

"I think that they are most upset about not being able to invest into Aust mines. They just don't have the substantial ownership of Aust mines the way they used too. GRR is one that comes to mind as still being
in Sino hands. It has some very cushy off take agreements well below market cost in favour of the majority Sino owner that just happens to be a steel mill in Tangshan.."

You are incorrect in your statement about Grange Resources. The major shareholder Shagang, China's largest private steel mill has an agreement to purchase one million tonnes of high grade iron ore pellets at the Metal Bulletin Index price of 65% fines plus the pellet premium index. There is no discount given to Shagang.
The Metal Bulletin (Fastmarkets ) index methodology is somewhat different to Platts IODEX or Custeel, but its still a recognised index.
The new 10 year agreement which is being voted on next week will change the methodology to price the iron ore pellets sold to Shagang to be an average of Platts IODEX pellet price and the Metal Bulletin pellet index.
The new Metal Bulleting iron ore pellet price is now being done from the 7th May 2021, and is closer to the Platts pricing.
I've had discussion with Metal Bulletin and they have stated to me "our new pellet premium index development may offer a more appropriate solution for Grange to adopt going forward."
Grange is currently selling iron ore pellets at US$306.40/tonne. Grange whilst a small producer, they do produce the highest grade in Australia and makes more profit per tonne than any other iron ore miner in Australia.