'Thanks Guennadi - that looks pretty clear to me - China Iron Ore Concentrate (Fe 66%)
= 520 RMB (yuan)
This correct looking at the info posted. It refers to Chinese Ore though???
KML report that the price paid is based on 'Platts IODEX 65% ore', not chinese ore. I think the only thing is to wait for the quarterly. It is hard to look at the market price and figure out exactly what KML are receiving. Drawing a comparison to the previous quarterly results the actual price KML received for its 66% ore was the same as RIO received for their 61.5% Pilbara Blend. Essentially it has one customer, and that customer is not paying a premium.
Let's see what the quarterly says, but I would wager that they have not been receiving $80 a tonne, probably $65-70/ton if we're lucky.
GBG Price at posting:
2.2¢ Sentiment: None Disclosure: Held
