That price is for 62% Fe ore. FMG's is well below that in the region of 57-58%. Deep discounts.
Fortescue and Atlas produce lower grade iron ores, and both reported received prices that were weaker than expected. Fortescue revealed a price discount of 20 per cent below the benchmark price in June.
http://www.smh.com.au/business/disc...stay-says-bhps-mike-henry-20140722-3cdmw.html
Admittedly this article is from middle of 2014 but does anyone honestly think the seller's market for low grade IO is better today than it was 18 months ago? Happy to be proven wrong if someone has solid evidence to the contrary.
That price is for 62% Fe ore. FMG's is well below that in the...
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$21.41 |
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Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
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| Price($) | Vol. | No. |
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