Yeh...iron ore prices are falling because forecasts are undershooting...
Not because of plummeting steel prices (rebar off 14-20% in 3 months) or rising protectionism against Chinese steel exports
Not because of Rio/Vale export volumes picking up (Aus June exports est to hit new records)
Not because the Chinese Govt is scrapping 3 yr ban on Valemax vessels (400kt) docking on China shores which result in freight rates comparable with Oz
Not because of marginal suppliers re-entering the fray (Atlas 15Mtpa)
Not because of rising stockpiles (+3Mt WoW)
Not because large majority of steel mills are in the red, with little demand appetite in ST
Nope, it's all about the forecasts right?
fe down 6%, page-9
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$20.28 |
Change
0.140(0.70%) |
Mkt cap ! $62.10B | |||
| Open | High | Low | Value | Volume |
| $20.33 | $20.39 | $20.01 | $49.91M | 2.468M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 5024 | $20.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.28 | 1836 | 8 |
View Market Depth
| Last trade - 12.00pm 03/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |