Fe                                63.50% (Below 63.00% FE Rejection by CIQ at Discharge Port)

Al2O3                        3.50% max

SiO2                          3.75% max

P                              0.08% max

S                              0.04% max

Physical Specification:
Size
Below 10 mm              90% min
Over 10 mm            10% max

Below 150 micron      25% max

Moisture:            10% max

Price:    US$ 142.00 PDMT C&F for CHINA MAIN Port basis FE 63.50%. Fraction pro-rata.

Price subject to change and reconfirmation

Payment:  By irrevocable confirmed sight L/C from any first class Bank available for negotiation at the counter of our Bank.

Inspection:      By any Independent Surveyor at Sellers option and at Seller''s cost.

Discharge Port by CIQ to Buyer''s account at Buyer''s cost.

Seller has the right to appoint / nominate their own surveyor for joint inspection with CIQ.

Insurance:  To be covered by Buyer at their cost.
Discharge rate:      15,000 MT SHINC.