Hedging is usually a service banks provide. It's a hit and miss game. AIS hedge their copper with Macquarie bank.
At the time of hedging it was a discount to market price.
From the hedging Ann the MD said their 45% hedging of their annual production will cover most if not all their cost. Which means the remaining 55% production is all profit. So the iron price would need to go $0 for nil profit and -$ to make a lost, that's how I read it.
Hedging is usually a service banks provide. It's a hit and miss...
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