Vale settles pellet 48% down
new price of 110.43cdmtu
this means Grange will receive about
110.43 * .65 = US$71.2
adjust for moisture 71.2 * 98 (not sure on H20 content exactly)
minimum: ~US$70/t plus a bit extra for freight equalisation (they usually get a bit extra cause they are closer to China.)
Operating cost should come down considering the repair which took place last quarter.
lastchance pre $1 get set asap ironore producr, page-7
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