FMG primarily ship FMG Blended Fines (BF - 58.3%) and Super...

FMG primarily ship FMG Blended Fines (BF - 58.3%) and Super Special Fines (SSF - 56.7%)

BF is closer to 58% Premium prices and SSF is closer to 58% prices.

Here are MySteel IO Benchmarks for today:
- 62% Australian Fines RMB 636, up 10, month average 634
- 58% Australian Fines RMB 583, up 4, month average 583.2
- 65% Brazilan Fines RMB 715, up 5, month average 720.2

Here are today's port prices:

1. Qingtao Port:
- PB Fines 630, up 10
- FMG BF 575, unchanged
- FMG SSF 518, up 4

2. Rizhao Port:
- PB Fines 630, up 10
- FMG BF 575, unchanged
- FMG SSF 518, up 4

3. Caofeidian Port:
- PB Fines 634, up 4
- FMG BF 575, unchanged
- FMG SSF 520, up 7

4. Tianjin Port:
- PB Fines 645, up 4
- FMG BF 585, up 11
- FMG SSF 533, unchanged

5. Taicang Port:
- PB Fines 650, up 6
- FMG BF 595, unchanged
- FMG SSF 543, up 8

These prices are supplied by MySteel.

As you can see, FMG's IO prices are very close to PB Fines now, the spread is so narrow now, FMG is making making US$20M+ cash flow a day at these prices. 

Hold on to your shares, if these prices hold, SP has a long way to run before any real retreat will happen.

DYOR
Frank