Hopefully this will bode well for our average received price, more transparent than the dribble we get in my opinion, straight from the FMG Qtrly but let's see what our report states!!!!
Fortescue’s average realised price for the quarter of US$65/dmt was in line with the December quarter. This represents a 76 per cent price realisation based on the quarterly average Platts 62 CFR price of US$86/dmt after adjusting for timing differences associated with provisional pricing.
Fortescue’s actual price received and operating margins have improved when compared to the first half of FY17 despite price realisation falling during the quarter.
With the current widening of spreads in prices between iron ore grades, Fortescue has lowered FY17 price realisation guidance to between 75 and 85 per cent of the Platts 62 CFR index. Over the longer term, average price realisation for Fortescue products is expected to revert to historical levels.
GBG Price at posting:
2.1¢ Sentiment: None Disclosure: Held
