looks like iron ore will continue to fall for the first half of the yr. Demand has really dropped off, and port inventories are high and going higher everyday. What it means is Chinese mines are going to close as they wont be able to complete with dso, as the price of iron falls (breakeven for a lot of mines is about 100 to 120 per tonne). FMG will be well placed because it is a low cost producer, problem will be, there wont be windfall profits now, and naturally the share price will reflect that
iron ore price , page-8
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$21.30 |
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Mkt cap ! $65.16B | |||
| Open | High | Low | Value | Volume |
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