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One formula will be defined by the FOB Australia coking coal price multiplied by a royalty coefficient of 0.015 and by the dollar-ruble exchange rate. Another will be based on the CFR China iron ore price multiplied by a 0.048 coefficient, by the dollar-ruble rate and by the ore's iron content divided by 62%.
IRON ore futures increased 10% to more than $226/t whilst the copper price continued to rise despite last week's record-making gains through $10,000/t. The iron ore sector "is very, very hot," Vivek Dhar, commodities analyst at Commonwealth Bank of Australia, said in Bloomberg Television interview. "Supply is still not able to meet that strong demand."
Global ferrous prices Argus Media. Iron ore prices; Coking coal. Our coking coal coverage provides 62 daily price series for coking and PCI coal, and includes the Argus fob Australia and cfr China premium HCC indices, which are commonly used between coking coal producers and steel mills around the world.
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