Nothing travels in a straight line, although the closest I've seen is the crash in iron ore prices.
This is far from over, there are still concerns about an oversupply of iron ore in the market with China effectively introducing a ceiling on production. The reality is a bunch of the higher cost iron ore companies will need to go into care and maintenance (the majors won't reduce supply) before the volatility in prices sorts itself out.
Still a high likelihood of prices taking the next leg down just as they have done in the past. Be careful what you buy.
Iron ore price, page-38171
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Last
$17.75 |
Change
-0.200(1.11%) |
Mkt cap ! $54.65B | |||
| Open | High | Low | Value | Volume |
| $17.88 | $17.91 | $17.54 | $136.4M | 7.625M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $17.74 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.77 | 2500 | 1 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |