hi lads. I have been reading this thread. I think we are all talking about different things.
The Whyalla Steelworks is an integrated steelworks. It takes iron ore, makes pellets, makes iron in a blast furnace, makes steel in BOS and then has a rolling mill.
FMG will never do that. FMGs ambitions are not to be a steel maker.
Rather, iron ore is Fe2O3. So the maximum Fe grade you can get is about 67% because of the oxygen. And 67% Fe gets a massive price premium over 58% because it is better in a blast furnace.
Imagine 99% or 100% Fe as a feed to a steelworks!!! Imagine not putting all the impurities and oxygen onto a train and then a ship but only transporting iron. And the enormous premium for pure iron over 58% Fe.
That is Andrew Forrests vision. Andrew knows a steelworks in the Pilbara is not realistic. His vision is not that. His vision is to make a super premium iron ore product and to make it using renewable energy (ie pure Fe or even raw steel). His trains and ships will transfer so much more Fe for the same volume. And he will get a super premium price for the Fe.
hi lads. I have been reading this thread. I think we are all...
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$25.82 |
Change
-0.230(0.88%) |
Mkt cap ! $79.72B | |||
| Open | High | Low | Value | Volume |
| $25.96 | $26.13 | $25.82 | $66.97M | 2.584M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 4973 | $25.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.84 | 9825 | 56 |
View Market Depth
| Last trade - 15.54pm 14/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$25.83 |
Change
-0.230 ( 0.61 %) |
||||
| Open | High | Low | Volume | ||
| $25.99 | $26.12 | $25.82 | 560424 | ||
| Last updated 15.59pm 14/05/2024 ? | |||||
| FMG (ASX) Chart |