Mate you should not seek financial advice on Hot Copper. Full of retail investors who get carried away on the highs and panicky on the lows. I'd suggest looking very closely at US monetary and fiscal stimulus and the Chinese demand situation and of course global supply, particularly Vale.
For those who think I am a dampner on FMG, see my posts regards 2016. I was doing a M.Fin at UNSW at arguing vehemently with an esteemed Professor of Finance who thought BHP, FMG and RIO were idiotic to raise production in the light of lower prices. How wrong he was. They streamlined their production and FMG became the cheapest supplier in the world. The competition fell and the success of FMG today is cemented in those times. FMG is a great company, but only 5 years ago iron-ore was below $50USD.....these prices are getting a little silly in my opinion and driven by speculative futures trading in China.
Ann: June 2021 Quarterly Production Report, page-31
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$21.71 |
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Mkt cap ! $66.84B | |||
| Open | High | Low | Value | Volume |
| $21.77 | $21.80 | $21.34 | $408.6M | 18.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 289875 | $21.68 |
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| Price($) | Vol. | No. |
|---|---|---|
| $21.72 | 95078 | 4 |
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