The rising IO price is obviously good for IO shipments, but the hedge restricts the gains.
Custeel... average price of 62% fines for February was us$125.50 an increase of us$2.27 from January.The FX moved from 1.44 to 1.48 for settlement date ( 5th of following month ).
The hedge for February...
IO ave price us$125.50 * 1.48 = a$185.74 p/t * 50kt = a$9,287,000.
hedge......................................=a$173.25 p/t * 50kt =a$8,662,500.==a$624,500 loss.
The hedge is based on the Platts index rather than Custeel used here.AIMO.
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15 | 364771 | 0.360 |
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25 | 266207 | 0.350 |
Price($) | Vol. | No. |
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