The CCP are right though, there’s people speculating on the futures contracts. They want to get rid of any purchases within the country that are speculative in nature, that’s why they’re trying to centralise it. They don’t want steelmakers and speculators outbidding each other.
You gotta remember that FMGs biggest customer is a communist country, and any holder of this stock is hostage to whether the communist party wants to direct more stimulus into the construction industry, which can’t survive without it. I don’t like to rely on any stock that is completely reliant on government spending.. but to each their own.
Iron ore price, page-48846
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Last
$21.90 |
Change
0.040(0.18%) |
Mkt cap ! $67.42B | |||
| Open | High | Low | Value | Volume |
| $21.92 | $22.11 | $21.82 | $224.3M | 10.10M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3932 | $21.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.90 | 400 | 1 |
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| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |