This is not necessarily a good thing, accepting a pre auction price for a December quarter delivery. Even though Pilbara are still at a healthy margin off this pricing, it doesn’t bode well for the spot price if they weren’t confident enough it would exceed $1200 at an open auction.
Futures also plunged just before this was announced.
WR1 General Discussion, page-26886
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 13945 | 68.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 69.0¢ | 1021 | 3 |
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