The trick is using the correct index. I missed with Q2 prices by using figures from a steelmint website. I have been using the Seaborne index 65% fines + pellet premium from a custeel website in Q3, as recommended by some posters here - this shows the current price at $US169.03 down $US1.32 since last Thursday.
Another poster has suggested using figures from another custeel website being 65% Brazilian Pellet(Foreign Quote) where the current price is $US173.80 a current high and steady since last Thursday. Although this price is now ahead of the above Seaborne index, it was substantially behind that index during July & August.
So knowing which set of figures to use is confusing I'm afraid.
I intend to have a second go at my Q3 predictions using prices from the 65% Brazilian Pellet(Foreign Quote) index that will produce a lower overall revenue figure for the quarter.
Pellet Price, page-685
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