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Iron ore price, page-32061

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Bert333

2,708 Posts.

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22/05/21

20:20

Post #: 53352946
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Originally posted by street professor: ↑

Here is my take Wacko:

The large trading entities know that the likes of BHP, RIO, FMG, etc will be paying record dividends come August/September, one would have to assume that during the months of July and August the share prices of all three will rise somewhere between 15-25% from current levels based on current fundamentals leading into dividend announcements. My opinion only. The lower the shares of the IO companies can be attained now and following month or so then the greater the profits can be when they are offloaded during August and September either prior to ex dividend or afterwards.

One way to push the share prices down is to create fear by media articles, we've heard all sorts of doom and gloom the last month or so yet IO prices still $200 plus but dipping slightly. The AFR publishing an article referencing a document from the Chinese Government that supposedly fell into the hands of the Lowy Institute(possibly fabricated BS) suggesting China is going to move away from Australian Iron Ore consumption and go to the IO powerhouses of Russia, Kazakhstan, Mongolia and Myanmar is truly embarrassing.

If that were possible why wouldn't China have investigated those options 20 years ago when many of their BOF and EAF steelmaking facilities were built ? The four potential IO power houses mentioned in the Lowy report being closer to China than Port Hedland.

China have spent billions in Africa chasing the IO golden goose with not much of a return at this stage.

In my opinion China has no option but to purchase Australian Iron Ore, the only substantial new supplies in the next 3 years or so will be from Australia as with the BHP mine that started shipping this week. The BHP leader Mr Henry appeared to have no concerns re the big 4 new IO power houses, of course he may not have the inside scoops such as yourself.

Be careful of media articles, very wealthy entities and individuals can make substantial amounts of money off the back of these articles which many times don't make any sense such as this one in the AFR.

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I am of a similar mind regarding the FMG SP pushing higher ahead of the div. I am hoping like hell it happens!

That said, I am getting nervous that even with the IOP hitting $230, the FMG SP could not break past $25. For some that's not a big deal but I have a narrow profit margin and I want protect capital.

JW predictions aside, what if the IOP did drop to $120-$170 in the coming months, The div would still be massive - but could the upcoming div keep the FMG SP at or moving above current levels in the face of a falling IOP??

FMG Price at posting: $22.30 Sentiment: Buy Disclosure: Held
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Last $21.52		Change -0.100(0.46%)		Mkt cap ! $66.25B

Open	High	Low	Value	Volume
$21.60	$21.61	$21.25	$97.49M	4.544M

Buyers (Bids)

No.	Vol.	Price($)
3	3904	$21.52

Sellers (Offers)

Price($)	Vol.	No.
$21.54	4837	1

View Market Depth

No.	Vol.	Price($)
3	3904	21.520
5	18935	21.510
4	14244	21.500
1	32102	21.490
2	20203	21.480

Price($)	Vol.	No.
21.550	1500	1
21.620	10096	4
21.630	14286	4
21.640	5354	4
21.650	35570	7

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FMG (ASX) Chart

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