Iron Ore Deal SnapshotEnter the offer, see what it is worth per shipment and over the contract.
- Free to use
- Stays in your browser until you export
- Asks nothing about who you are
Product
Iron ore is priced per dry metric ton and adjusted for its iron content. Silica, alumina, phosphorus and sulphur penalties are set in the contract and are not modelled here.
Quantity
Reference price
The figure shown is an example, not a market quote. Index assessments are subscription data; enter the figure and date the offer cites. The buyer buys FOB, so a CFR index is brought back to the loading port by deducting freight. US dollars and euros are shown here. Any settlement currency can be configured for the transaction once the parties are engaged.
Price
Deal terms and closing — optional
Documents in hand
Parties to the offer
Optional. Each party added here is listed in the PDF.
What is being presented
| Per shipment | Contract, 12 shipments | |
|---|---|---|
| Market value, at the adjusted reference | — | — |
| Seller receives, at the gross discount | — | — |
| Buyer pays, at the net discount | — | — |
| The spread — gross to net — commissions and contract costs paid from it | — | — |
| Buyer’s price against the adjusted reference | — |
The spread is shown as one figure. Payouts from it can be structured in unlimited configurations — sell side, buy side, paymaster, groups — once the parties are named.
The spread
Price build-up
Closing
Volume
| Per shipment | Contract | |
|---|---|---|
| Dry metric tons | — | — |
| Wet metric tons | — | — |
| Contained iron, metric tons Fe | — | — |
Price per unit
| Adjusted reference | Gross — seller | Net — buyer | |
|---|---|---|---|
| Per dry metric ton | — | — | — |
| Per wet metric ton | — | — | — |
| Per Fe unit 1% Fe in one dry metric ton | — | — | — |
Every figure above is taken from the offer as entered. If any of them is wrong, the correction is welcome and easily made.
This page, and what Magister Operis prepares
| This page — free | With Magister Operis |
|---|---|
| The offer valued at the adjusted reference, per shipment and over the contract | Pricing confirmed against the index, grade terms and pricing period the contract names |
| The spread, as one figure | The spread paid out to every party, in any configuration, to the cent |
| Product, price, procedures and personalities as the presenting party states them | The same four evidenced, in a file that passes pre-compliance (Bank Compliance) |
| Closing terms as stated | The closing packaged for the signatories’ partners or board to approve |
| A PDF to carry to your team | The file presented to the buyer, direct |
The snapshot is free and needs no introduction. The file a bank or a board signs against is prepared with Magister Operis, on terms set for each engagement. Contact:
The buyer
Magister Operis is direct to a principal trader in iron ore, Fe 64% and above. Reference MAGOP/COM/RFQ/02NOV2023A. Product, price, procedures and personalities: Iron Ore.
Bringing the offer to Magister Operis
Send the exported snapshot to
Standing, by party
| Mine owner or operator | The entity’s registration, and counsel acting for it. Supply evidenced: mining licence and title, a JORC or equivalent resource statement, a dated SGS or equivalent analysis, export history and the mine-to-port logistics. The ultimate beneficial owner (UBO) is identified to that counsel. |
| Buyer | An entity that owns the funds to purchase, or can evidence the infrastructure that ensures purchase performance: the bank that issues the letter of credit and, on FOB terms, the shipping. |
| Intermediary | Its introduction and the connections it knows of. Magister Operis defines the rest for packaging. |
A party whose standing is evident on the public record, such as an established operator with a competent corporate website, verifiable officers and published operations, is not asked for proof of funds or proof of product. A party with genuine assets or funds whose standing is not yet evident establishes it with the documents set out in Bank Compliance, on its own or with help from Magister Operis.
A UBO who prefers to stay off the record is accommodated. Magister Operis does not need the UBO’s name, accounts or banker; the UBO’s counsel holds them. That counsel is named, engaged, reachable on a firm-domain address and carries active professional indemnity (errors and omissions) cover sized to the transaction (Bank Compliance, item 3). Disclosure then runs counsel to counsel.
Commissions are paid at closing, shipment by shipment. Closing requires approval by the signatory’s partners or board, and they approve on records. The sooner the records arrive, the sooner the file is packaged.
Reference: what banks require, item by item, in Bank Compliance; why an owned-domain address speeds a file, in Professional Email Addresses.
KYC / AML
An offer is presented to a buyer once its file passes pre-compliance, the standard the world’s largest banks apply to each other (Wolfsberg Group). The file is defined item by item in Bank Compliance: the parties, their counsel, banking relationships and intermediaries, and the title, licensing, resource and export history of the ore. A file already in order is presented as it stands, and closes as fast as the obvious quality of its paperwork and the parties’ websites supports. Where a party wants a full set of legal documents within a bankable KYC package, that is available on request through Integrity as a Service.
Next step
| Model it yourself | Buy a MERCATUS Worksheet and run this offer, and the ones after it, in Excel: fixed-price or discount model. |
| Have it packaged | Magister Operis structures the document set and packages the transaction for the parties and their counsel: Transaction Document Architecture. |
Every engagement is governed by the firm's Method and Disclaimer; intermediaries should also review the firm's Due Diligence standards.