Actually if you look at history it went from $190 in 2008 to $58 a tonne in early 2009 when the GFC hit.
So it might hit high $50s if we have a hard landing opposed to a soft landing on this years recession. Banks have 60% chance of a hard landing and 40% on a soft landing.
Banks are now pricing in 6% fed rate which means around 7-8% interest rate with the banks. Most builders are lucky to make 10% so its better for them to just keep there money and accrue interest which means less building and required building materials.
Actually if you look at history it went from $190 in 2008 to $58...
Add FEX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
31.0¢ |
Change
0.005(1.64%) |
Mkt cap ! $215.3M | |||
| Open | High | Low | Value | Volume |
| 30.5¢ | 31.0¢ | 30.5¢ | $19.42K | 63.48K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 252847 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 292859 | 7 |
View Market Depth
| Last trade - 15.59pm 15/05/2024 (20 minute delay) ? |
|
|||||
|
Last
30.5¢ |
Change
0.005 ( 2.37 %) |
||||
| Open | High | Low | Volume | ||
| 31.0¢ | 31.0¢ | 30.5¢ | 92603 | ||
| Last updated 15.58pm 15/05/2024 ? | |||||
| FEX (ASX) Chart |