Iron ore was immune to the volatility seen in other Chinese financial markets on Tuesday.
Chinese futures were quiet, as were spot markets.
According to Metal Bulletin, the spot price for benchmark 62% fines rose by a solitary cent to $64.55 a tonne, a move that is generally only reserved for days when Chinese holidays are held.
https://edge.alluremedia.com.au/uploads/*/2018/07/MBIOI-62-July-4-2018.jpg
The movements elsewhere were also incredibly muted.
The price of 58% fines added three cents to $37.45 a tonne while 65% fines lost 0.1% to close at $91.50 a tonne.
Iron ore was immune to the volatility seen in other Chinese financial markets on Tuesday.
Chinese futures were quiet, as were spot markets.
According to Metal Bulletin, the spot price for benchmark 62% fines rose by a solitary cent to $64.55 a tonne, a move that is generally only reserved for days when Chinese holidays are held.
https://edge.alluremedia.com.au/uploads/*/2018/07/MBIOI-62-July-4-2018.jpg
The movements elsewhere were also incredibly muted.
The price of 58% fines added three cents to $37.45 a tonne while 65% fines lost 0.1% to close at $91.50 a tonne.
65
% fines at current price of $$ 91.50 USD
One would presume that Karara producing 66 % would attract a premium maybe $$92.50 USD
$$ 92.50 X 1.355 ( AUD CONVERSION ) = APPROX $$ 125 . 33 AUD
Am I calculating incorrectly ?????
Personally I see that very small movements in the USD iron ore price should have dramatic effects on the AUD received by Karara !!!!!!!
OBVIOUSLY THAT CAN WORK BOTH WAYS
Im hoping that the AUD still has a little way to go on the downward slope then stabilise , hoping iron ore 65 % plus will still move upwards but very slowly
TIME WILL TELL !!!!!
