Business
China emissions cuts stoke record premiums for quality iron ore – The Australian Financial Review
All types of iron ore are fetching bumper prices, but the boom is proving sweetest for those selling lump and pellets as quality premiums surge.
That equates to a premium of about $US37.90 on each tonne of lump ore sold by Australian miners like BHP and Rio, given the miners typically sell lump ore with iron grades of 62 per cent, or 62 units per tonne.
Based on the volumes of Western Australian lump exported by Rio and BHP last year, the current premium is worth more than $3 billion per year for both miners.
The lump premium is now 16 times higher than it was in August when the premium had almost disappeared entirely.
Lump ore can be added…
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