I don't know what the RIO Yandi phos level is, but let's assume it is 0.050%. To blend the 0.190 down, you will need 93% Rio Tinto Yandi, and 7% IOH. Now, you have just pushed up the Yandi blend phos up to 0.060 from 0.050. And Rio has to wear that penalty with their customers. So eventually the freight comes in there, as the Rio product no longer has any phosphorus blending power, and has to be enhanced with Vale ore from Brazil.
IOH Price at posting:
21.1¢ Sentiment: Hold Disclosure: Not Held
