China Steel PMI for April 50.1 - first move to expansion for 3-4 months i believe. But spot price sliding heavily, while currency remains stable.
Either this is an inflexion point or someone is manipulating one or more of these markets.
According to slide 8 FMG net debt is now $9.4bn - so yes, i;d thought the $3.1bn they just paid off had already been take off the $12b debt figure i;d seen in commentary.
the point remains valid - FMG puts iron ore out at $US70ish per tonne all costs included.
The bears focus on FMG as a short because it is a pure play, it has high liquidity and it has high debt.
What I think the market doesnt generally understand is that FMG actually operated at roughly the same operating cost as BHP and RIO - its the debt repayments that give it a higher total cost per tonne.
So long as FMG keeps this discipline of fast debt repayment, the next benefit of lower cost production + any fall in AUD/USD conversion should significantly cushion FMG.
- Forums
- ASX - By Stock
- FMG
- china rein supreme in world commodities
china rein supreme in world commodities, page-4
-
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
|
|||||
Last
$18.27 |
Change
-0.290(1.56%) |
Mkt cap ! $56.25B |
Open | High | Low | Value | Volume |
$18.70 | $18.72 | $18.21 | $313.4M | 17.09M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 45418 | $18.27 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.30 | 1200 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 17409 | 18.260 |
3 | 1797 | 18.250 |
2 | 3500 | 18.240 |
3 | 2143 | 18.230 |
5 | 6103 | 18.220 |
Price($) | Vol. | No. |
---|---|---|
18.300 | 1200 | 1 |
18.310 | 400 | 1 |
18.340 | 3281 | 1 |
18.350 | 3000 | 1 |
18.380 | 75 | 1 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online