Futures were up another 3% last night which Iron Ore should move up even more today.
Atlas iron is well in the money now, currently their margin should be:-
US$83.6 = AU$111.9 x 0.8 = AU$89.50
Costs = AU$50
Profit = AU$39.50
4 MT x $40 = $160 Million Dollars.
Not bad for a company whose share price is only 4.7 cents, and a Market Cap = $430 Million.
Iron ore price, page-1085
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