I'm not sure it's an error. It says in the text that they got 73% of the Platts at the time of contracting. If the time of contracting was weighted towards June when the Platts price was below $60, then that would explain the $37.82 number.
It's unfortunate, but it's in the past anyway. More important is what the IO price does from here. If it stays above $65 it will put upward pressure on the share price as the shorters look to cover IMO. If it drops back to June levels I expect a renewed shorter attack.
News: FMG Fortescue Metals Group says qtrly shipments of iron ore was 44.7 mln tonnes, page-22
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Last
$15.97 |
Change
-0.230(1.42%) |
Mkt cap ! $50.61B | |||
| Open | High | Low | Value | Volume |
| $16.23 | $16.47 | $15.95 | $114.6M | 6.672M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 2606 | $15.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.98 | 6250 | 21 |
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| Last trade - 13.32pm 05/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |