Miningnut,
No idea where do you get the 128 USD CFR figure. Current 62% Fe fines are at 65 USD and the pellet premium is at 45 USD so CFR price is 110 USD. We deduct 16 USD for shipping and adjusting for the rate, that's a 123 AUD received.
Source: Metal Bulletin
Key Production Metrics 2017?, page-7
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