No reason to fore any producer to cut their production as we are in a free market.
But the way Mr Walsh dealing with publicity was very poor and damages RIO's social image and it's not acting as a "good social corporate citizen". As a result, they would grab more attention from the government, such as ATO to probe their tax schemes. I don't think that was a good move for RIO's shareholders.
Iron ore price is finding a balance in its own course. I would guess US$60/dmt will be the floor and it's enough to force out the high cost producers and keep balance of demand and supply.
FMG would make annual cash flow of US$2b at the spot price of US$60/dmt, so it's enough to pay off all debts by 2019.
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Last
$21.25 |
Change
-0.270(1.25%) |
Mkt cap ! $65.85B |
Open | High | Low | Value | Volume |
$21.60 | $21.64 | $21.19 | $55.95M | 2.618M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 45 | $21.25 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.26 | 6738 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 629 | 21.260 |
23 | 6596 | 21.250 |
19 | 7255 | 21.240 |
21 | 9264 | 21.230 |
15 | 6074 | 21.220 |
Price($) | Vol. | No. |
---|---|---|
21.270 | 15102 | 31 |
21.280 | 5261 | 13 |
21.290 | 5301 | 15 |
21.300 | 8323 | 14 |
21.310 | 4180 | 10 |
Last trade - 13.00pm 23/07/2024 (20 minute delay) ? |
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