What are you suggesting is driving this price low.
Maybe we are at a point there are too many major producers that have low cost causing toxic competition and cannibalization of the market.
http://www.reuters.com/article/vale-ironore-cost-idUSL4N11T1HO20150923
The above article suggested vales cost is around $16 ton. If that is true the iron ore price has a long way to fall.
$12 target, page-150
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Last
$43.11 |
Change
-0.680(1.55%) |
Mkt cap ! $218.0B | |||
| Open | High | Low | Value | Volume |
| $43.31 | $43.59 | $42.80 | $260.7M | 6.026M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1210 | $43.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.12 | 999 | 6 |
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| Last trade - 15.56pm 09/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |