No QP's have nothing to do with the enviro bond.
QP stands for Quotational Period. So when NCZ sell the zinc, they sell it on one of the following terms:
1. Spot - there would be no quotational period. Final invoice raised and paid on ship leaving their Qld port.
2.1MAMA or 2MAMA where MAMA stands for 'month after month of arrival'. Provisional invoice raised and paid on ship leaving their port with Final invoice raised up to three or four months later.
So if the ship unloads the zinc at destination on 2nd Sept then the final price NCZ would get is based on the average LME price for the month of October if it is a 1MAMA contract or the average price for the month of November if it is a 2MAMA contract.
NCZ Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held