IOP is heading south again as things in China look grim. There is $292 USD billion owed from developers that have defaulted. All the stimulus will struggle to boost the real estate if they do not bail out the Evergrandes, the Coventrys, Simics, there is about 20 big developers all with billions of USD overdue.
The real estate bonds speak for itself, complete junk.
According to bloomberg only the new developers will be saved that have not defaulted already.
If IOP price keeps heading south as we head into a global recession , then there is less shipments of IO then I guess Newhaul / FEN can look for other options if they are not transporting as much iron ore like potash.
Looks like pretty grim times ahead.
Ann: Quarterly Activities Report, page-28
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Last
39.5¢ |
Change
0.010(2.60%) |
Mkt cap ! $270.9M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 39.5¢ | 38.5¢ | $211.5K | 543.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 94889 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 181964 | 6 |
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| FEX (ASX) Chart |