Can someone explain to me how the discount is calculated?
benchmark prices are around $71 and $56 for 62% and 58% respectively.
I make that a discount of around 20% but all of the articles are quoting discounts of 30-40% or more
What is the discount calculated from? Is it 40% from the $56 ie a price of $36 or 40% from $71 ie a price of $43?
What does the quoted 58% benchmark mean therefore?
Many thanks
Iron ore price, page-4709
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