Based on the above comments that CFR is likely to be AUD$111 (instead of AUD$87) due to shipping increasing to AUD$65 from AUD$29, I've amended my table.
Remember, the AUD is a natural hedge so if Iron Ore price drops then the AUD drops too.
It also goes without saying that if Iron Ore drops in price that the shipping costs will also drop due to lower demand.
The VMS Iron Ore sale price is not based on 58% FE but rather 62% FE and adjusted for 57% FE per announcement below and off-take agreement.
Also I don't believe these Iron Ore games will be maintained for the next 2 years and in 2-3 months it will be bounce back as China needs Iron Ore to grow its economy (aimo).
I believe the USD$130 and USD$120 table below is lowball as if the Iron Ore price drops to that level the AUD will drop, shipping costs will drop due to demand.
Relevant announcement:
02136847.pdf (weblink.com.au)
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