BHP and RIO might get a bit extra but they are cutting hard into cap ex which will make that more difficult. RIO's new Silvergrass mine is 20m tons but is largely replacing other production. Sam said that it is a challenge to constantly replace 1m tons per day of production. I think US$40 per ton IO has put too much pressure on the majors and there has been a clear change in their commentary. The only way they can remove FMG is a takeover but they will wait until the shares are at least $4.00 It is not in their nature to buy at the low of the cycle.
Iron Ore Price, page-4636
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Last
$21.64 |
Change
-0.220(1.01%) |
Mkt cap ! $66.59B | |||
| Open | High | Low | Value | Volume |
| $21.71 | $21.80 | $21.53 | $44.03M | 2.032M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 44 | 14986 | $21.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.64 | 4579 | 14 |
View Market Depth
| Last trade - 14.08pm 10/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |