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IRON ORE - FE: 64.5% (REJECTION 63.0%)
Quantity:125,000 MT X 24 (shipment every 2 weeks)
Contract Quantity:One year contract (3,000,000 MT) with possible rollovers, and extensions
Shipments: In metric tonnes -every month shipment totalling 125,000 MT X 2 shipments. (24 shipments per year) .
Delivery Schedule:30 days or less after receipt of DLC
Origin: Brazil
Destination:ASWP China Main Ports
Price: USD $68.00 per mt-CIF China Main Ports
Payment:An Irrevocable, Non-Transferable Documentary Letter of Credit (DLC)
Inspection:Quality, Quantity, and Weight by SGS/Lloyds (or equivalent) before loading at loading port at seller's expense. Buyer reserves the option to make SGS (or equivalent) . Re inspection --at loading or unloading port at buyer's expense. At unloading port, the buyer may instruct CIQ for re-inspection at buyer's expense.
Performance Bond:Seller to open 2% Performance Bond Guarantee of the L/C value.
Insurance:Seller will arrange at buyer expense
Specification: Chemical Composition -
FE: 64.5% (rejection below 63.5%)
SiO2: 3.0% Max
12O3: 1.05% Max
Phos: 0.04% Max
Ash: 0.075% Max
Sulphur: 0.005% Max
TiO2: 0.25% Max
Moisture: 4.00% Max
Free moisture loss at: 8.00% Max 105 degree centigrade
Physical Composition -
0.105mm---6.35mm : 85% min
Above 6.35mm: 5% max
Below 0.105mm(100 mesh) : 10% max