The Rising Influence of Rising Affluence

[Democritus_of_Abdera]

Re: CLF 2Q14 PR:

It would have been helpful if the CLF PR (http://finance.yahoo.com/news/cliffs-natural-resources-inc-reports-205328012.html) had included the average shipping costs for the Eastern Canadian Ore.

With the shipping cost I could connect the dots between the the cash cost F.O.B. ($80-85/ton) and the revenue C.F.R. China (which varies, albeit CLF uses the default average year-to-date 62% IO fines price).

Note that I interpret F.O.B. to represent the cost to get the ore onto the shipping vessel and C.F.R. to include the costs to ship from the loading site to the delivery site.