The spot prics in the slide is for 6% CIF, the SMM prices stoof uses is between 5.5-6.2 CIF , presumably an average.
The FOB prices recieved for our 5.3% in the Dec quarter were $US686t . As a rough guide I take about $US100t off stoofs SMM prices which would be around $US744t FOB based on yesterday's SMM price of $US844t CIF, give or take, it's far from an exact science.
Cheers Whisky
The spot prics in the slide is for 6% CIF, the SMM prices stoof...
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