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<p>[QUOTE=&quot;gxseries, post: 434781, member: 4373&quot;]Guy, I am not too aware of what are the terms and conditions and this can possibly vary in different countries as well as with whom you are dealing with. Some mining companies deal heavily on hedging whereas some don&#039;t. The thing is, companies can lock in contracts with buyers at any price for any duration period of time. Current spot prices are just nothing but for reference purposes. </p><p><br /></p><p>If I am not mistaken about the current market situation, what is fundamentally different about the recent market is that the Chinese buyers have difficulties understanding what contracts are all about. They expect you to offer the best price where ever possible otherwise they will back out. Yea sure that&#039;s the goal of competition but when there is a hiccups in the production level, there is very little margin of a company to recover.[/QUOTE]</p><p><br /></p>

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