The table below shows our estimate of the components of the average cost of iron ore products. In Q4 2012, the average iron ore product had operating costs of $40.45/wet tonne, compared to $40.48/wet tonne in Q3 2012. The average export product had operating costs of $34.92/wet tonne, compared to $35.19/wet tonne in the previous quarter. Total costs of export iron ore products stood at $45.41/wet tonne in Q4 2012. Therefore, iron ore cost for the average product rose by 0.9% for total global production and 0.4% for exports.
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