IO price (unlike POO) can never bounce back imo. The oversupply is so so massive that if/when the junior IO miners go to the wall the drop in supply will make no difference. Assuming the big 3 go ahead and complete their last tranch of new mines then even losing Anglo and FMG would see IO supply exceeding demand albeit by far less. This assumes Roy Hill comes onstream. Surely it too will be a loss maker, but Gina's massive royality income may keep it alive as no shareholders to be accountable to.
It's going to be hell for many companies even with AUD at 80c. Look for several MS stks to drop to bare minimum and consolidation occuring. Whole IO sector fraught with danger. BHP at least has oil. Is it a buy at $26?
BHP are soo dumb !!, page-6
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Last
$38.66 |
Change
-0.100(0.26%) |
Mkt cap ! $196.1B | |||
| Open | High | Low | Value | Volume |
| $38.99 | $39.12 | $38.66 | $270.1M | 6.949M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $38.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.70 | 203 | 1 |
View Market Depth
| Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
| BHP (ASX) Chart |