It's quite remarkable, How all these big advisory places in Jan - Feb said they expected Iron Ore to roll off to the 140-150 range by now but still to this day it is comfortably sitting in the 170 range. It goes to show that they cannot determine what commodity prices will be which has always been my stance. Governments and industries determine the price on the basic principle of supply and demand for their economies. I'm sure the same people were saying Iron Ore was too pricey at $100 per tonne too. At some point in time the commodity price will beat the ATH otherwise we would be back to what the price was years ago if not lower due to inflation.
The situation in Brazil is not getting better by any means. It is the second highest country for new infections as we speak at 80,000 being in the last day or so.
I guess we will see how good this quarterly is (or bad). That will paint the real picture
Iron ore price, page-30188
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Last
$19.55 |
Change
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Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
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| No. | Vol. | Price($) |
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| 5 | 2568 | $19.51 |
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| Price($) | Vol. | No. |
|---|---|---|
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |