Random Numbers on Base Metals
FACT: Steel producers use about 1.6 tons of iron ore and 0.5 tons of coking coal to make 1 ton of the alloy.
According to Bloomberg, Iron Ore Spot (USD/mt) is $ 177.5 (for Feb-11) and China Coking Coal (USD/mt) is $318.3 (for Jan-11). And US Steel Pricing ($/mt), Flat Rolled is $947.2, Long Product is $859.7, and Scrap price is $ 475.6. According to the above fact the naive calculation gives me $443.
Platinum is used to make jewelry and pollution control devices for cars rose 33% to average $1.613.46 an ounce last year after falling two thirds from a record $2,301.50 reached in 2008. Platinum imports into China, the biggest auto market gained 40% in 2010 according to the General Administration of Customs, as vehicle sales climbed. The biggest Platinum producer is Anglo Platinum Ltd. (AMS:SJ)