In saying the above I'm also not sure what they could have done differently. Invest big into higher grade ore and all they are doing is bringing more supply on the market which will then hurt their main deposits of lower grade ore.
I think all this shows FMG is simply a price taker and all they can really focus on is keeping costs down and hope the market reverts in due course. The business will survive no doubt about that, but earnings will vary significantly. Perhaps this is why there's silence from management. Rock and a hard place.
Iron ore price, page-7455
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$17.32 |
Change
-0.840(4.63%) |
Mkt cap ! $53.32B | |||
| Open | High | Low | Value | Volume |
| $18.22 | $18.27 | $17.26 | $202.6M | 11.43M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4600 | $17.31 |
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| Price($) | Vol. | No. |
|---|---|---|
| $17.33 | 396 | 1 |
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