Iron Ore 64.5 % from Brazil
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The following is an outline of terms for the Brazilian iron ore 1.82 million MT 64.5% Fe iron ore CIF PRICING
1 Total quantity: 1,820,000 MT CIF
2. Shipment: 13 months @ 140,000 MT per month (2 shipments of 70,000 each month)
3. Price: $82.00 per MT CIF
4. Payment terms: Bank Guarantee valid for 380 days at a value of US$35,000,000. Or Revolving Irrevocable Standby Letter of Credit (SBLC) from which each shipment amount can be drawn.
Shipments could begin the first two weeks of September 2007.
5. Seller to provide 2% P. B.
6. Port of loading: Santos , SP, Brazil