Your calculations is correct if we assume the IO price remains at this level. Remember that during August to October the weather condition in China is extremly bad and as the result many construction projects are put on hold. After this period, all activities would start again and the price of commodities logically should improve.
IMHO It is a good time to buy at these historical levels with your spare cash. And strickly avoid borrowing.
not ridiculous, page-2
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31.5¢ |
Change
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Mkt cap ! $364.5M | |||
| Open | High | Low | Value | Volume |
| 31.5¢ | 31.5¢ | 30.0¢ | $1.333M | 4.317M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 116755 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 93895 | 3 |
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| GRR (ASX) Chart |