Smart move Redback. Have we seen the iron ore price top? I think quite possibly we have. I totally agree with the ausie dollar up and the dalian price down heavily overnight, one would think the spot price will probably follow.
Not to mention fuel prices have jumped considerably recently. I'm still of the opinion bci cannot survive in the medium to longer term. What they are doing at the moment is not sustainable. They are digging out all there best and easy to get to ore. They are deffering digging waste which will come back to bite them hard. They may be breaking even at these prices but any downside in the ore price will see them chewing up cash. The iron ore price outlook is not good at all. Once they have cherry picked all the good pockets of ore, what is left to do. They will have no choice but to dig a lot of waste. By that stage the iron ore price will probably be a lot lower. There current stategy of cherry picking the good ore is artificially lowering there current break even costs and means they are surviving on a false economy.
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Smart move Redback. Have we seen the iron ore price top? I think...
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25.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $721.1M |
Open | High | Low | Value | Volume |
25.0¢ | 25.0¢ | 24.5¢ | $259.1K | 1.036M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 6555 | 25.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
25.5¢ | 105164 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 6555 | 0.250 |
6 | 132601 | 0.245 |
5 | 850514 | 0.240 |
4 | 133963 | 0.235 |
11 | 475252 | 0.230 |
Price($) | Vol. | No. |
---|---|---|
0.255 | 105164 | 4 |
0.260 | 214986 | 7 |
0.265 | 40000 | 1 |
0.270 | 48572 | 4 |
0.275 | 3600 | 1 |
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