". At that price, minus the fact it is for 62%Fe product and FMG is shipping 58%?, they are looking sick at present cost structure.
They need to do a swift renegotiation of their debt"
pays to read a bit more before you post...that infor may have been accurate re debt negotiation 2 years ago. The current structure is very clean..nothing is due in a hurry...no need for swift renegotiation of anything although generally any debt position can be improved...
it would also pay for you to read that the low 70s/t cost for FMG has factored in the discount to 62% IO price,yes at $80 FMG still make money though is a slender $6-7 margin/t....and annualising it at 155mt..
eager down ramper constantly fails to take into account FMG C1 cost is close to that of BHP.the 3rd largest IO producer,though the total cost is higher beacuse of the interest component..
weak china steel demand will continue! , page-25
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