Just to add my 2c to this great post. The key points there are that a lot of it is behind closed doors. FMG has many long standing customers with contracts that we may never be privy to. We do not sell most of our product at either seaborne or port daily spot prices. I've heard we usually set our prices each month (not confirmed), so daily movements don't matter much.
As you can see from his post, we sell some products at a discount to 62%, others at a premium to 58%. For those worried about the grade, don't stress, we have smart management.
Iron Bridge is coming online soon.
Eliwana is expanding as soon as the Aboriginals can finish their surveys and approvals.
Potential JV for the multi billion tonne Midwest magnetite project
R&D into turning our 58% iron ore into 90+% green iron
short at your own peril
FMG Price at posting:
$19.01 Sentiment: Buy Disclosure: Held
(20min delay)