There seems to be a lot of negativity around the iron ore producers with FMG, BHP, MinRes all down 5-10% last couple of weeks.
The DRR recent acquisition has been treated luke warm by the market
I have just started buying into all this negativity
My question is why the negativity?
The China economy is stuffed. (We get it.)
There is a property collapse in China (We get it.)
We are in a recession. (We get it.)
Productivity is appaling in labor markets in Aus leading to increased costs to the miners- (We get it)
Short positions don't seem huge to me....
So who is doing all the selling?
Big OS instos?
Local fundies?
And why?
given all the negativity would already be priced into the market?...
Thanks/ NA/ just MO
Iron ore price, page-52438
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$20.10 |
Change
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Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
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| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
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