Shipping is one issue which is beyond E25's control.
Nobody is blaming E25 for this, but the fact that shipping costs change overtime was overlooked during feasibility studies.
While the shipping cost is high and only partial loads are sent then the cost per tonne shipped will be high.
No point trying to put lipstick on a pig.
In most cases it just reduces profits, in E25 case it makes them unprofitable.
The other issue is the manganese ore price which again is beyond E25's control, it is what it is.
The manganese ore price is headed down , not up.
Latest info translated from Chinese Mn alloy producers today.
" From the perspective of manganese ore raw materials, the current situation of manganese ore continues to be weak, and the transaction is light. On the one hand, it is due to the stagnant purchase of alloy factories due to the current downturn in the market, and the second round of futures arrivals in the port. The port spot inventory increases and remains at a high level. The sale of minerals was blocked, and the confidence of some miners was hit hard."
E25 is a high cost producer, this will never change. Transport costs from mine to port won't go down, it takes one truck driving 400,000 kms to deliver one Supramax vessel load for E25.
It takes FMG 1.5 train loads to deliver the same amount.
Theres no point putting lipstick on a pig. Its still a pig.
E25 Price at posting:
$1.03 Sentiment: Sell Disclosure: Not Held
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