"To meet their Australian costs, they would need to convert the US$ to AUD,
Therefore if AUD decreases against US$, they would be receiving more AUD based on a lower US$.
Have I lost the plot or am I missing something here"
Think of it this way. Most likely cause of collapse of $A is large drop in IO price. For illustration purposes assume IO is US$100/tonne, not ~US$135/tonne. In that case there will be far fewer US$ left to convert to AUD and bring home..... as debt servicing stays same in US$.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$18.21 |
Change
0.400(2.25%) |
Mkt cap ! $56.06B | |||
| Open | High | Low | Value | Volume |
| $18.08 | $18.35 | $18.00 | $266.8M | 14.68M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1774 | $18.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.21 | 2913 | 5 |
View Market Depth
| Last trade - 16.20pm 23/07/2025 (20 minute delay) ? |
| FMG (ASX) Chart |