Posted On: 03/26/2012 11:34:14 AM
Post# of 8059
This was posted by Ken
kag_sfmi
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Saturday, March 24, 2012 5:26:59 PM
Re: Rocket Man post# 67691
Post # of 67822
Here's an Email from Bob regarding the PR, which also addresses a question I asked about long-term contracts:
Quote:
Thanks Ken, I may put one out at the end of this month, nothing special, just let some of the people know we are alive and kicking.. LOL//…. We will not be signing any long term contracts for iron ore, until such time the market is not dictated by the China Sea Borne Spot Prices… Annual contracts are not exactly fixed or locked in, most want a clause for reduction on price is the market falls, so why the hell lock in a price, we sell on the 6 day average price of the Spot Market, i.e., 3 days prior to and 3 days after the Master Bill of Laden is signed for the shipment, just FYI….
Bob seems to know what he is doing...I think I'll stick around awhile longer. LOL! CWRN
kag_sfmi
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Saturday, March 24, 2012 5:26:59 PM
Re: Rocket Man post# 67691
Post # of 67822
Here's an Email from Bob regarding the PR, which also addresses a question I asked about long-term contracts:
Quote:
Thanks Ken, I may put one out at the end of this month, nothing special, just let some of the people know we are alive and kicking.. LOL//…. We will not be signing any long term contracts for iron ore, until such time the market is not dictated by the China Sea Borne Spot Prices… Annual contracts are not exactly fixed or locked in, most want a clause for reduction on price is the market falls, so why the hell lock in a price, we sell on the 6 day average price of the Spot Market, i.e., 3 days prior to and 3 days after the Master Bill of Laden is signed for the shipment, just FYI….
Bob seems to know what he is doing...I think I'll stick around awhile longer. LOL! CWRN
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