17.5 is quickly becoming the base after a bad week.
with an extended break in the US there may be some traders taking profits on the last few days, today especially.
this may see a 17.
an ann that drilling has commenced would be good but probably do very little. 19 tops.
over the next two weeks, slight creep.
6 weeks to 35 6 months to 70
FMS doesnt have any concerns about any of this stuff at the momment, they have not borrowed serious cash for infrastructure they just have land a heap of iron.
IO price may be spot trading down at present, but this is because there is shoring up with a 80 - 90% increase. small players in steel dont know what to do with themselves. they will either need to compete and pay higher spot price, settle on a long term deal or get gobbled up by bigger players.
It just happens the price is down when some QLD joker and the chinese are looking to aquire iron producers and float.....not likely.
buy sell buy sell, long term this is a winner.
FMS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
