At the moment even higher grade ore (if VMS can manage to produce 62% fe ore) is not looking too flash. Current 62% fe price is $92.98/tonneIRON ORE DAILY: 62% Fe index falls below $100 per tonne
Iron ore prices moved down on Monday September 20, with Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao falling below $100 per tonne for the first time in 14 months.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $92.98 per tonne, down $8.97 per tonne
62% Fe low-alumina fines, cfr Qingdao: $94.07 per tonne, down $9.88 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $64.73 per tonne, down $8.79 per tonne
From AR's announcement on Friday:-
"Recently, 62% Fe iron ore prices have declined significantly from highs of over US$230 per tonne to the current
price of US$106 per tonne. This decline has coincided with an increase in the discount rate for Riley’s 57% Fe
grade ore, from a market rate of 10% used in the Company’s 2019 Feasibility Study, to the current market rate
of 30%. "
"VMS"" Success is not limited to "Riley", page-89
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