But analysts say prices should be significantly lower because of ongoing weakness in China’s construction activity that has caused steel prices to collapse, leaving many mills unprofitable and unwilling to buy iron ore.
“We have a hard time understanding why iron ore is still managing to just hang onto $100,” said Westpac’s head of commodity and carbon strategy, Robert Rennie. “Iron ore prices should be in the mid- to late-$US80s given the absolute carnage going on in steel markets quietly in the background.”
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AKO General Discussion, page-729
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Last
12.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.06M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20000 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.0¢ | 59995 | 1 |
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| Last trade - 16.12pm 12/08/2024 (20 minute delay) ? |
| AKO (ASX) Chart |
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