iron ore price, page-47

okay here we go er6n.

Last quarter the pricing went US$120/dmt for standard product
and US$92/dmt for value fines.

The discount on the value fines last quarter relative to standard fines was therefore... :

(120-92)/120 = 28/120 = 70/3 %

If the current price for standard product is AUD$110, then the price of value fines will be therefore... :

(110 - v)/110 = 7/30

thus v = -1 x ((7/30 x 110) - 110)
v = 253/3 or AUD$84.3/t

Now if we follow company guidance of a sales mix of 9 standard to 1.2 value... then the average price will be... :

= ((110 x 9) + (253/3 * 1.2))/(1.2 + 9) = (990 + 506/5)/ (51/5) = 5456/51 or AUD$106.98/t

KAAAPOW... Cabbageman knocks Thai Ladyboy flat!