GRR is probably getting more like $180-$190/tonne less expenses because of the higher grade. If you read and deduce what they received when the price hit $180 @62% about 18-24 months ago GRR was getting near the IO peak then about $221 per tonne, (it is roughly a 20% premium during buoyant times, a lesser premium during quieter times). Perhaps there is a lag to get to the higher level, but it is surely on the up at present.
iron ore fines at $159/tonne, page-3
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