Bounce in IO price coming. Question is will it be long enough to deleverage FMG and fund the expansion?
http://www.thebull.com.au/articles/a/31224-iron-ore-to-stay-low-longer-term.html
Chinese stimulus is also on the way... they have a political changeover soon and they can't afford for things not to be going smoothly with the economy. The second the US elections are over we we will see a lift in the global economy due to increased certainty and if Obama gets back in we may even get some expansionary fiscal policy before long.
Key point: World needs IO. Question is can FMG hold on long enough for China to take off again. Yes IMO
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Last
$22.35 |
Change
-0.015(0.07%) |
Mkt cap ! $68.84B |
Open | High | Low | Value | Volume |
$22.32 | $22.40 | $22.15 | $42.22M | 1.889M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 4484 | $22.34 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$22.35 | 795 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 4283 | 22.320 |
12 | 3704 | 22.310 |
12 | 10796 | 22.300 |
9 | 3880 | 22.290 |
10 | 6921 | 22.280 |
Price($) | Vol. | No. |
---|---|---|
22.340 | 2251 | 10 |
22.350 | 4272 | 12 |
22.360 | 15006 | 12 |
22.370 | 5318 | 10 |
22.380 | 4521 | 9 |
Last trade - 10.26am 18/07/2024 (20 minute delay) ? |
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FMG (ASX) Chart |