First, your argument is IO is going back to the $70's because China is going to experience mass deaths from upcoming COVID transmission then it's IO is going back to $80's/90's because inflation tomorrow will be higher than analysts prior predictions.
What part of this don't you get? The IOP will routinely fluctuate. The Chinese may decide they want to stockpile, which would send prices soaring or they might decide there are other priorities by minimising their demand for it.
All that matters to us is if the running costs stay under the trading price, which it's currently been doing.
Price of Iron Ore, page-1443
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Last
37.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $257.0M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.5¢ | 36.5¢ | $390.7K | 1.058M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 57182 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 135491 | 3 |
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