Great to see the increase of IO price but correct me if I'm wrong. The chart refers to the purchase price of ore at China port? therefore you would have to consider the cost of shipping, unloading, bulking, transport etc. to the relevant steel mill. I don't think it is as simple as using the current exchange rate to work out what Karara is receiving.
FYI I will have a look around the port next week as I will be in the area. See what has changed / improved since I was last there.
Danger Will Robertson!, page-26
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