Iron Ore : For shipments in Jan, 2005 our offer price would be US $ 54 pmt for payment by L/C.
In order to execute any FOB contract at US $ 48 we need payment strictly by DD/TT. 10 % of the total contract value has to be paid by DD / TT at the time of signature of the contract. The balance has to be made on daily payment basis. Else 50 % of the contract value has to be paid in advance, the balance can be through Local L/C under which we shall withdraw payments, after every 2500 tons has been delivered to the port plot.
For your information our current FOB price ex Haldia (East India) is Rs. 2150/- and ex Paradip(East India) Rs. 2350/- pmt. This price is also valid till 28th Jan, 2005 after which it could be revised upwards. These are DD / TT & Local L/C combined payment terms prices