Custeel average price of 62% fines for January was us$123.23 p/t.
The FX on 5/2/23 settlement date * 1.44 = au$177.45.
therefore $177.45 less hedge $173.25 = $4.20 * 50,000 tonnes =a$210,000 Fenix pays Mac Bank.
This is not the Platts index IO price just trying to get a guide.
Does this look near the mark?
Ann: Fenix extends iron ore hedging cover, page-17
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