Sir,

I have gone through your requirement of buying Iron Ore.

The Iron Ore Fines that we shall offer you would be from Indian Mines and shall have +64% along with all other conditions that we shall finalize when the Mine Owner and the Buyer are made to sit directly to negotiate with each other. We shall not be asking for any commission from the buyer.

As you are aware that the market price for Iron Ore Fines has gone down considerably at present. We shall offer you our best price on Port Plot basis at Haldia/Pradeep/Vishakapatnam, and the buyer shall have to arrange for the Ship at port from their end, since there is sortage of ship at our Ports.

We shall quote you our best Rate as we hear from you, still for your reference it would be US$55 on FOB basis and for CNF it would be US$ 74 in both the cases the materials (Ores) would be inspected by SGS and thereafter would be loaded on ship after the Buyer's approval. The quanity would be as per your requirement on monthly basis and the rate agreement would be for Three Months/ Six Months basis to be reviewed therafter with Market Fluctuation allowence to be worked out principaly after negotiated percentage is set by the Parties for the safety of both the Buyer and the Seller, which would be decided at the time of price negotitaion.

ALSO NOTE THAT IN INDIA THERE IS A PROBLEM OF EXPORTING IRON ORE FINES CONTENT OVER 63.5%. WE SHALL TRY TO WORK OUT AT THE TIME OF MEETING AS TO HOW IT CAN BE DONE.

Shall revert back to you with more once your response is recieved by us.

WITH BEST REGARDS.