Iron Ore ( Lumps or Fines, Magnetite, limonite, hematite) Buyer and Importer

We Qingdao Yuntai Asset Management Co., Ltd. hereby state and represent that it is our intention to purchase, and we hereby confirm that we are ready, willing and able to purchase the following commodity as per the specification and in the quantity and for the price as specified in the terms and conditions stated below. This representation is made with full corporate authority and responsibility of the above stated buyer.            Commodity: Iron Ore  ( Lumps or Fines, Magnetite, limonite, hematite)            Chemicals: Element Typical Specifications Reject or Renegotiation at buyer’s option Fe ≥ 62% SiO2 ≤ 5% ＞5.5% Al2O3 ≤ 1.5% ＞2% P ≤ 0.1% ＞0.1% S ≤ 0.1% ＞0.1% K2O + Na2O (Total) ≤ 0.25% ＞0.3% Physical Composition Size 6mm- 50mm ≥86% Moisture loss At 105 degree centigrade ≤ 6%              Trial order: 30,000DMT (±10%) as a trial order.             Formal contract: After the successful trial order, the buyer and seller sign a formal contract, and the buyer purchases no less than 1,200,000DMT of iron ore from the seller per year.            CIF Price: Average 5 days of NOR date (5 Platts working days after and NOR date) Platts IODEX 62% FE CFR NORTH CHINA discount minus(-)     % per DMT.            Discharging Port: Jiangyin Port, JiangSu, China            Inspection: Intertek, CIQ or CCIC            Performance bond (P/B): 2%             Payment: The seller issues 2% P/B to the buyer, the buyer shall establish an Irrevocable Letter of Credit within 5 (five) working days after receipt of seller’s P/B, payable at sight through the bank nominated by the Seller. 90% of the provisional payment shall be paid to the seller according to the inspection and weighing at the loading port, and the final payment shall be settled according to the inspection and weighing at the destination port. y, willing and able to purchase the following commodity as per the specification and in the quantity and for the price as specified in the terms and conditions stated below. This representation is made with full corporate authority and responsibility of the above stated buyer.            Commodity: Iron Ore  ( Lumps or Fines, Magnetite, limonite, hematite)            Chemicals: Element Typical Specifications Reject or Renegotiation at buyer’s option Fe ≥ 62% SiO2 ≤ 5% ＞5.5% Al2O3 ≤ 1.5% ＞2% P ≤ 0.1% ＞0.1% S ≤ 0.1% ＞0.1% K2O + Na2O (Total) ≤ 0.25% ＞0.3% Physical Composition Size 6mm- 50mm ≥86% Moisture loss At 105 degree centigrade ≤ 6%              Trial order: 30,000DMT (±10%) as a trial order.             Formal contract: After the successful trial order, the buyer and seller sign a formal contract, and the buyer purchases no less than 1,200,000DMT of iron ore from the seller per year.            CIF Price: Average 5 days of NOR date (5 Platts working days after and NOR date) Platts IODEX 62% FE CFR NORTH CHINA discount minus(-)     % per DMT.            Discharging Port: Jiangyin Port, JiangSu, China            Inspection: Intertek, CIQ or CCIC            Performance bond (P/B): 2%             Payment: The seller issues 2% P/B to the buyer, the buyer shall establish an Irrevocable Letter of Credit within 5 (five) working days after receipt of seller’s P/B, payable at sight through the bank nominated by the Seller. 90% of the provisional payment shall be paid to the seller according to the inspection and weighing at the loading port, and the final payment shall be settled according to the inspection and weighing at the destination port.  Show More