Blow me down with a feather, from MinRes:
For future reference, when assessing the economic impact, by my calculations 58% discounts at this level reduce Australia’s net iron ore export price by $4 per tonne. Given the rebound in shipping rates to $7-8 that means you need to reduce the CFR spot price by $11-12 to reach the comparable Budget forecasting figure. With un-adjusted prices today at $73, the Budget outlook price of $55 is still comfortably in the black but only by $7 or so.
