Hi Pear
I answered your last statement:
The discount is a reflection of our inferior product not the prepayments.
Pear those published accounts include the standard 10-15% discount of the Platts index
The further 6% we see for next month is either a discount to the customer depending on how much they would have agreed to pre-pay for the previous months arrangement
or
They could be undercutting RIO's Robe fines or BHPB Yandi product
I believe its the first otherwise what would be the benefit to the Chinese in outlying big$$ for pre-payments
Iron Ore Price, page-3150
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