@venusflytrap, exactly. The nonsense on here has been hyped-up fear while the market fundamentals have not been significantly impacted. Yes, steel margins have come off a little... as they should.... and this is the quieter period leading into the Chinese NY. Objectively, the iron ore price needed to consolidate. This is part of that process and cycle.
The SP behaviour has been a total overreaction. Many forget the relative margins FMG and others are sitting on. I think we'll see a stark shift in sentiment once sense returns after everyone has thrown their toys out of the pram.
Baron
Iron ore price, page-27635
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$18.44 |
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Mkt cap ! $56.77B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 1832 | $18.42 |
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| Price($) | Vol. | No. |
|---|---|---|
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