FMG sets 6.5% adjustment for Kings fines
Fortescue Metals Group has set a 6.5% adjustment for March shipments of its 57.3% Fe Kings fines, mill sources told Steel First on Wednesday February 25.
Shanghai 25 February 2015 07:57
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Dancing, not sure if it was you or another poster trying to work out why FMG said received price was $66 but when dividing your numbers you came out with $61 odd, if i'm not mistaken (can't be bothered going back reading old posts)
If you recall Dec,Jan, Feb i posted same as above for all 3 months only it was 7.5% adjustments, this would explain the difference between the $66 and $61, There received price is $66 of the platts index (10% 15%) The further discount i would say is a mates rate discount for forward payments. This alone would suggest FMG would never go under as the Chinese mill would be quick to the rescue.
Anyway whatever it is its 1% better of for FMG next month
Iron Ore Price, page-17
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