Like I said short term pain for long term gain. Chinese housing policy have tighten even more on the weekend, before we had restrictions on BUYING, now 14 cities have introduced restrictions on SELLING, what the.... All I have to say is Chinese do thing very differently to us here in Australia.
Just got this news this afternoon, some suppliers are now selling FMG IO for May orders, and today those May orders have the same discount as April, which is around 24%. The reason being " low demand" for FMG IOs. Definitely a big contrast from 5 months ago when FMG IO was in hot demand.
Steel market transactions were low today, prices were down also.
I‘m already sounded like a "shorter" with all these "negative" news, but until either demand is picking up or high cost supplies leaving the market, we probably will hear more negative news than positive ones.
DYOR.
Frank.
Iron ore price, page-710
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Last
$18.24 |
Change
-1.310(6.70%) |
Mkt cap ! $56.62B | |||
| Open | High | Low | Value | Volume |
| $18.76 | $18.85 | $18.19 | $174.4M | 9.407M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 11017 | $18.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.25 | 17473 | 27 |
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| Last trade - 15.14pm 11/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |