Does this mean we can now assume pricing to be a lot closer to the spot pricing that gets posted on the forum?
Pilbara chief financial officer Brian Lynn said the company had taken the opportunity to re-look at its pricing mechanism.
Under the previous pricing structure, Pilbara would receive the average price for the December half for the March quarter.
"Clearly in a rising market, that's quite punitive," Lynn said.
Pilbara will move to provisional pricing, which will allow for adjustments at the time of shipping which are more in line with the spot market.
Good News & Bad News, page-548
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