The SP may bounce up a bit before 28. One may sell calls at 5.50 to reduce loss.
I was predicting major downturn about mid October - November. Chinese mills are still producing at full blast, but the future is clear; the killing pollution will be reduced this winter at a cost of reduced steel output and a consequential drop in demand for sub 58%Fe ore. Pellets, lumps and 65% ore are in demand and selling at a great price at the moment.
All IO products may come down in price, low quality most.
FMG with the reserves of low quality IO and a misguided dividend policy is facing serious problems.
Over the last 2 years the only investment in the future was a small flotilla of 8 ships, a little pain in the donkey. I see SP around 4.00 before mid Northern winter. Total wealth is a true metric rather than a dividend. BHP had a great dividend policy, ended up in massive impairments.
To change subject to a neutral topic.
Take any number
If even, divide by 2,
If odd, multiply by 3 and add 1
Continue......
No matter how big number you choose the end result is 1.
If you could explain the above fame and millions await.
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$21.92 |
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Mkt cap ! $67.62B |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
25 | 5594 | $21.91 |
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Price($) | Vol. | No. |
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View Market Depth
No. | Vol. | Price($) |
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4 | 689 | 21.930 |
15 | 4625 | 21.920 |
14 | 4389 | 21.910 |
12 | 47375 | 21.900 |
15 | 5327 | 21.890 |
Price($) | Vol. | No. |
---|---|---|
21.940 | 4004 | 15 |
21.950 | 7032 | 21 |
21.960 | 5385 | 14 |
21.970 | 5553 | 10 |
21.980 | 8366 | 14 |
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