Look for the "DMTU" (dry metric tonne unit) price, which is the...

Look for the "DMTU" (dry metric tonne unit) price, which is the price per percentage point determined on the basis of benchmark grade ore (around 67% Fe I think).

So for example, for ore grading 67% Fe, if the DMTU was $2.50, the price per tonne would be 67 times $2.50 or $167.50 per tonne.

For iron ore grading 57%, the price per tonne would be 57 times $2.50 or $142.50 per tonne.

There are also penalties for ore that carries above range impurities such as sulphur, phosphorous, titanium, silica and alumina.