FEX 2.50% 39.0¢ fenix resources ltd

Where are you getting your information from? My sentiment is...

  1. 203 Posts.
    lightbulb Created with Sketch. 236
    Where are you getting your information from? My sentiment is still a buy, but writing such comments without evidence isn't impressive.

    For example, see (https://www.mining.com/australia-predicts-50-drop-in-iron-ore-price-by-2021/):

    China imports around 70% of the world’s seaborne iron ore which is estimated at more than 1.5 billion annually and Beijing’s economic stimulus has also buoyed the market. Chinese steel output is up by more than 10% so far this year, and is now running at an annualized rate of over 1 billion tonnes, and port stocks are 17% below levels seen this time last year.

    But here the outlook is also becoming murkier and in its latest quarterly report, the Australia’s Department of Industry predicts Chinese steel output – which represents half global production – has reached its high water mark.

    The official forecaster of the world’s top exporting country sees Chinese steel production peaking at 940 million tonnes this year before going into a steady decline, dragging down imports in the process.

    This, coupled with supply returning to normal levels, will see the price fall to half today’s levels in 2021. The Australia government’s office of the Chief Economist estimates iron ore prices would average $80 a tonne this year before falling to an average of just $57 a tonne in 2021 as the seaborne market returns to surplus.

    The price used by the Dept. is free-on-board Australia, so for comparison with the benchmark, add between $6 – $10 for cost and freight.

 
watchlist Created with Sketch. Add FEX (ASX) to my watchlist
(20min delay)
Last
39.0¢
Change
-0.010(2.50%)
Mkt cap ! $277.8M
Open High Low Value Volume
39.0¢ 40.0¢ 38.0¢ $442.6K 1.132M

Buyers (Bids)

No. Vol. Price($)
2 7792 39.0¢
 

Sellers (Offers)

Price($) Vol. No.
40.0¢ 408953 9
View Market Depth
Last trade - 16.10pm 19/07/2024 (20 minute delay) ?
FEX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.