Price of Iron Ore, page-763

to those posting the IO price

on CU steel you can deselect 58%Fe and then add port landed 62.5 lump price in USD

that gives a more realistic IO price for what Fenix sells.

I do not believe the economics are there for only producing and shipping just 50kt/month.
Double handling can take time.Say 300T via loader per hour.Load/unload/drivers and trucks idling.
However,cease using other contractors to make up tons to port is one area of economy that can possibly be had.

Fenix owns half a trucking company who's economics are base on their trucks running continuously and receiving $43.62/ton shipped up to June
on top of the 50% profit they left in they loaned/prepayed another $2m up to June.
I imagine to meet capital costs relating to trucks and 4th trailers based on a 77 month contract.
The accounts indicated they are working on a $5 Gross profit margin per ton shipped which Fenix sees half of after tax.
Maybe just reconfigure three trailers to Quads even if it means parking up a truck or two but then keeping the same tons heading to port?

World demand for steel isn't reducing.
Just the Chinese market,which with banning of steel exports,so now maybe IO becomes a domestic driven market.
With its own pricing possibly disconnected to world pricing.
That is the real risk with so much supply locked up in offtake agreements with Chinese companies.

lets hope the usual chinese winter cycle plays out and prices lift.

The real cost that hasn't shifted much is shipping currently down to 27.65 from 31.30 last month based on 60KT
Dampiers dropped from nearly $21/ton to 11.13/ton for capesize currently

I would imagine they would hold back shipping as much as they can until they see lower shipping costs this month.

I would.

DYOR + DYODD