Shagang Offtake, page-116

That is correct, average price for the March quarter was US$228/tonne according to Grange's quarterly report and the Custeel quarterly average was US$240/tonne. So thats reasonable
However how many of the shipments were to Shagang and how many to other customers ie South Korea?
Maybe miningnut has a record as to the ports of discharge as this would give a clear picture of the purchasers.

A call to Grange might provide more certainty.

The fact is the Independent Experts report is light on important information BUT full of unimportant waffle that has no bearing on the offtake agreement.
There has been NO disclosure on other customer purchases to provide clarity on other actual prices .
Either the company officials are stupid or they'd prefer to keep us in the dark.