strong oil price should lead to stronger commodity prices as a whole... i couldnt tell you exactly why that is, i dont know enough about the macro's, but thats what i read when i browse finance articles etc...
to illustrate, here are monthly charts of oil and io, from march 2014
IO
OIL
maybe the market is beginning to believe that higher commodity prices are here to stay and will start to price FMG accordingly (much to spuza's delight)
IO up
ASX up
USD up
FMG up
what a difference a day makes...
Iron Ore Price, page-13446
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Last
$19.47 |
Change
-0.260(1.32%) |
Mkt cap ! $59.94B | |||
| Open | High | Low | Value | Volume |
| $19.65 | $19.65 | $19.37 | $126.0M | 6.462M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $19.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.50 | 24291 | 3 |
View Market Depth
| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |