VS,
Sorry I can't agree with you the 65% pellet premium today is 66USD to the 61.5% fines price of 64USD giving a 65% pellet price of 130USD - we are then allowing a freight component of 15USD that Grange pays to give us a net price of 115USD.
Have a look at the following site and then click on the 65% Brazil pellet(Foreign Quote) in the left hand column and you will get a comparison between the 61.5% fines price and the 65% pellet price.
http://www.umetal.com/luliao/price_center_en.jsp
VS, Sorry I can't agree with you the 65% pellet premium today is...
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