Iron ore price, page-10785

According to MySteel, total IO port transactions for today is 0.62MT, down 31.49% from yesterday.

Last week, daily average was 1.0281MT.
Last Month, daily average was 0.7977MT.

Qingdao Port Prices:
- PB fines RMB 620, down 8
- FMG SSF 56.7% RMB 514, unchanged

Jingtang Port Prices:
- PB fines RMB 630, unchanged
- FMG SSF 56.7% RMB 513, unchanged

For those who is interested in covert into US$, the port prices are in RMB and wet metrics and including tax, to to covert into US$, this is how I calculate:

PB Fines 620 / 0.915 (covert to dry) / 1.17 (17% tax) / 6.7 (US RMB FX) = US$86.44/dmt
FMG SSF 514 / 0.915 / 1.17 / 6.7 = US$71.66/dmt

Cheapest FMG IO is making +$40/wmt cash flow ATM, that is over US$600M a month!!

Let's hope these prices last a long long time.

DYOR
Frank