" there is no magic pudding coming from Brazil or Africa""
I think you have nailed it with this comment.
Is the price being held back by a reluctance to bet against China.?
FMG is a substantial part of my portfolio but it would be a lot more is someone is prepared to guarantee that China can't pull something out of the box.
They have a lot riding on it so the incentive is there and they have a good track record for proving their detractors wrong.
Iron ore price, page-28594
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Last
$21.86 |
Change
0.040(0.18%) |
Mkt cap ! $67.30B | |||
| Open | High | Low | Value | Volume |
| $22.18 | $22.18 | $21.69 | $119.2M | 5.445M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14450 | $21.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.87 | 152 | 1 |
View Market Depth
| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |