Chart, page-2

Hi Ultra,
According to the chart, in just 3 weeks time, the SP is indicated to be between $1.50 and $2.25

Such an increase in SP seems highly unlikely to me because the current pellet premium is just $22 usd, and that in a recent report sighting C1 costs of $130 aud had included a $19 hike in energy costs attributable to the furnaces, which could be tipping the pellet processing from being value adding to value taking.

It would be of interest if someone could supply the chart overlayed with the pellet premium. In the run up to the Beijing Olympics the pellet premium was sufficient alone to cover all of C1 costs, which effectively meant the 65% component was pure cream. In contrast, today's pellet premium of $22 usd is way short of covering $130 aud in C1 costs.