Got a very important clarification from today’s concall-
The current price of pellet of 8800 per tonne is without the premium of high grade pellet.
For high grade pellet, the price is around 9900-10000 per tonne today.
The Q1 pellet price was 11500 per tonne.
10K per tonne today’s price is only 13% fall from Q1 price.
The iron ore royalty will also come down substantially due to fall in IBM price (with a lag of 2-3 months).
One can easily calculate the net profit based on this information.
Meanwhile, the prices continue to surge today too-
Based on the surging prices, I am expecting a Buyback with the next results.
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