There isn't a set relationship between the 62% average and the realised price, this is just shown for comparison purposes.
The Platts 62% Index is the official gauge for the price of physically delivered iron ore, I am not aware of a Platts 58% Index that FMG could use as a comparison instead.
JPGuru is right, the 58% price will be a better representation of FMG's performance, it just happens that its not industry practice to use that measure... and most people should have the mental capacity to account for that.
Iron ore price, page-44295
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$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
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| Price($) | Vol. | No. |
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| $20.15 | 20000 | 1 |
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