The table below shows our estimate of the components of the average cost of iron ore products. In 2011 Q3, the average iron ore product had operating costs of 44.64 dollars/tonne, compared to 44.58 dollars/wet tonne in 2011 Q2. The average export product had operating costs of 39.57 dollars/wet tonne in 2011 Q3, compared to 36.70 dollars/wet tonne in the previous quarter. Total costs of export iron ore products stood at 49.14 dollars/wet tonne in 2011 Q.3. Therefore, iron ore cost inflation in 2011 Q3 halted, a slowdown compared to the 5.1% of 2011 Q2. Compared to same period in 2010, iron ore production costs jumped up by 15.8%.
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