Rana Gruber ASA has entered Iron Ore 62% Fe, CFR China (TSI) swap contracts.
Rana Gruber ASA has agreed to sell a total of 270.000mt (30.000 per month) in
the period from Q3-24 to Q1-25.
Prices and volumes:
- 30.000 mt per month in Q3-24 at an average price of 120.5 USD/mt (total of
90.000 mt).
- 30.000 mt per month in Q4-24 at an average price of 118.5 USD/mt (total of
90.000 mt).
- 30.000 mt per month in Q1-25 at an average price of 116.0 USD/mt (total of
90.000 mt).
The swap contracts relate to physical shipments in Q2-24 to Q4-24.
Final financial settlement of these shipments will relate to these swap
contracts.
Total volume of iron ore swap contracts after today is:
May 24: 80.000mt (avg. 116.84 USD/mt)
June 24: 80.000mt (avg. 116.84 USD/mt)
Q3-24: 270.000MT (avg. 120.21 USD/mt)
Q4-24: 180.000MT (avg. 119.6 USD/mt)
Q1-25: 90.000MT (avg. 116.0 USD/mt)
Contact
CEO, Gunnar Moe
+47 941 47 650
Gunnar.moe@ranagruber.no
CFO, Erlend Høyen
+47 902 02 741
Erlend.hoyen@ranagruber.no
About Rana Gruber ASA
Rana Gruber is a Norwegian iron ore producer established in 1964, with
operations based on more than 200 years of mining experience. The company's
products are based on natural mineral resources, which are processed and
exported to customers worldwide. Key customers include steel producers and
participants in the chemical industry. The company has about 370 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates.