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$6.43 champion iron limited

See graphs on Steel Mill profitability from Shanghai Metals...

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zendiceman

3,598 Posts.

1579

05/12/22

12:20

Post #: 65152711
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Originally posted by zendiceman: ↑

Steel mill profits need to lift for that to happen.
We have the COVID zero light policy rally on at the moment and moment is strong.

But a key issue here is that Steel mill revenue needs to dramatically rise for these gains to be sustainable.

The steel mills in China are still underwater. HRC is picking up and sits in a slightly profitable state but rebar is still unprofitable for them.

I have long foreseen this rally and naturally benefit from it immensely. But for us to hold the gains I want to see the Steel Mills making good coin.

I hope the Chinese consumer can open its wallet.

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See graphs on Steel Mill profitability from Shanghai Metals Market from 2nd Dec as evidence:

CIA Price at posting: $6.94 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $6.43		Change -0.320(4.74%)		Mkt cap ! $3.331B

Open	High	Low	Value	Volume
$6.56	$6.61	$6.43	$12.12M	1.865M

Buyers (Bids)

No.	Vol.	Price($)
6	19495	$6.43

Sellers (Offers)

Price($)	Vol.	No.
$6.44	6600	1

View Market Depth

No.	Vol.	Price($)
5	16966	6.430
2	4054	6.420
1	3495	6.410
4	22545	6.400
1	2929	6.390

Price($)	Vol.	No.
6.450	7000	1
6.500	8876	1
6.520	12921	3
6.530	6927	2
6.540	3495	1

Last trade - 16.10pm 05/06/2024 (20 minute delay)


Last $6.45			Change -0.320 ( 4.55 %)
Open	High		Low	Volume
$6.55	$6.60		$6.44	332167
Last updated 15.59pm 05/06/2024 ?

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