Chinese investment has nothing to do with the future of FMG.
There is a surplus of iron ore and surplus capacity. No matter what china does, it will not increase the iron ore price because the market is falling to equilibrium. Iron ore will fall to $50 for the next 10 yrs at least.
There is now enough iron ore mines on care and maintenance to keep iron ore prices low for a long time.
Demand will increase but there will not be a price spike because the market has sufficient capacity to fulfill demand.
FMG can not succeed at long term low prices of $45 ton.
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Last
$26.78 |
Change
0.460(1.75%) |
Mkt cap ! $82.45B | |||
| Open | High | Low | Value | Volume |
| $26.79 | $26.79 | $26.44 | $104.0M | 3.898M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $26.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.79 | 25045 | 6 |
View Market Depth
| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
$26.72 |
Change
0.460 ( 1.96 %) |
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| Open | High | Low | Volume | ||
| $26.76 | $26.79 | $26.44 | 573343 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| FMG (ASX) Chart |