Samson, the price GBG received was $56 per tonne, as per the report. You then need to deduct shipping costs from this. Not over $100 a tonne, I suspect that that price was for short tonnes or something else otherwise GBG is getting twice the price it has reported. A 4% increase in Fe content does not command a 100% premium. Even at that price, I reckon they would be struggling to make profit.
Platts Iodex 65%Fe, page-10
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