Cotton & Western Mining Inc (fka CWRN)

[pesquero]

http://www.steelbb.com/steelglossary/#l_3

"Dry metric tonne unit
This is the internationally accepted unit of measure for iron ore pricing.

A dry metric tonne unit (dmtu) is 1% of iron (Fe) contained in a tonne of ore, excluding moisture. The price per tonne of a consignment of iron ore is calculated by multiplying the cents/dmtu price by the percent Fe content of the ore in that shipment.

For example, a 67% Fe content iron ore will priced at the contracted dmtu price multiplied by 67, a 55% Fe content ore at the dmtu price multiplied by 55, etc.

Iron ore contract prices are quoted in US$ cents."

MB and Platts Indexes are "normalized" ONLY in the sense that they reflect a "Benchmark Spot Price" for 62% Fines delivered to North China AND Instead of quoting in cents/ dmtu they simplify it by quoting a full Metric Tonne.

Complicated, huh....