" 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
$16.20 |
Change
0.080(0.50%) |
Mkt cap ! $49.87B | |||
| Open | High | Low | Value | Volume |
| $15.98 | $16.34 | $15.91 | $139.5M | 8.619M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 70232 | $16.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.20 | 830 | 1 |
View Market Depth
| Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |