The Iron Ore bears conveniently forget what would happen to the supply side equation if I/O prices fell below $100/t for an extended period of time. There is a lot of supply (probably a third) that requires prices above $110/t.
The share price of the Majors (RI0, BHP and FMG) will drop significantly if the price crash did come, but it would all be temporary, as adjustments in I/O supply would correct the balance and send the price back above $100. FMG have been publicly saying their break even price is somewhere around $70/t.
This is why it is so important to be at the bottom end of the price curve.
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Last
$16.66 |
Change
0.360(2.21%) |
Mkt cap ! $51.29B |
Open | High | Low | Value | Volume |
$16.50 | $16.74 | $16.31 | $150.0M | 9.072M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 600 | $16.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.67 | 40000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 600 | 16.650 |
3 | 3854 | 16.620 |
6 | 123818 | 16.600 |
1 | 17431 | 16.590 |
1 | 15712 | 16.580 |
Price($) | Vol. | No. |
---|---|---|
16.670 | 40000 | 1 |
16.690 | 7146 | 2 |
16.700 | 4559 | 4 |
16.730 | 1000 | 1 |
16.740 | 12642 | 2 |
Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
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