Have you tried using the weekly '65% Fe Blast Furnace Pellet...

Have you tried using the weekly '65% Fe Blast Furnace Pellet (MBIOI-PT)' index from Metal Bulletin converted to AUD?:



Zooming into the first 6 months of this year the average of its weekly numbers is around $150AUD/t. GRR reported $134 and $137 in the two quarterly reports, which suggests around $15 for freight which seems about right?



Since 30 June, as many have noticed the price has jumped up significantly to around $220AUD/t on the MBIOI-PT. It has average $200AUD/t this quarter. Using miningnut's excellent tracking, i think the weighted average price (which factors in only 1 shipment in July when prices were lower) will be approx $205AUD/t less $15/t shipping or $190AUD/t net or ~$107m in revenues for the quarter (~86m in Q1m, ~95m in Q2)

As GRR is a high cost supplier (i think 100-120 AISC -- i don't believe the C1 costs that company publishes because it capitalises a lot of stuff), it is highly leveraged to these recent price gains. Savage River has been relatively dry this month (154mm so far vs 200mm monthly average) so hopefully they can start pumping out the pellets for the final quarter.