Iron ore price is now less eye watering than even a month earlier and currently I don't hold a buy or sell sentiment as things are just too volatile. I may re-enter later in the year once things calm down as FMG is a great company irrespective of the iron ore price given it is among the lowest cost producer.
Surprised you guys aren't talking about yesterday's big news regarding the Ansteel and Begang merger (creating world 3rd largest steel giant) just approved by China's regulators and steel top brass. Pretty sure more stuff will be approved soon like Green steel and other environmentally focused priorities as part of the Leninist commie 5 year plan.
This is where FMG will benefit big time from the Iron Bridge project where the high grade and low impurity beneficiated concentrates will command a premium.
GLTAH. Always DYOR
Fair Value For FMG, page-38
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Last
$22.62 |
Change
0.700(3.19%) |
Mkt cap ! $69.64B | |||
| Open | High | Low | Value | Volume |
| $22.38 | $22.75 | $22.26 | $131.3M | 5.814M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 120 | $22.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.63 | 6416 | 3 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |