Just the Delta scariant mixed with supposed Chinese Government restrictions on steel production, world steel demand hasn't changed from what I understand and IO supply hasn't suddenly increased.
If FMG were to average US$100 a ton @ 180m tons still looking at US$10B profit in 12 months.
IO drops below US$100 long term then many of the new IO ventures or future planned mines become commercially unviable including many Chinese mines.
Buy the dip an option.
Iron ore price, page-35005
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$22.48 |
Change
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Mkt cap ! $69.21B | |||
| Open | High | Low | Value | Volume |
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