Hardly - the majors (which used to include Anglo) haven't cut back on supply for years. They will close loss making operations which is a very different matter.
The shake-up is going to hurt the mid quality assets the hardest, iron ore may well be back at 2004-2005 prices and may fall to the prices even seen in the 1990s but BHP and RIO are well placed if that happens. Especially as both have around 5x the output they did pre-boom.
BHP Could be Kaput - excellent article, page-43
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Last
$43.40 |
Change
0.410(0.95%) |
Mkt cap ! $220.2B | |||
| Open | High | Low | Value | Volume |
| $43.52 | $44.03 | $43.40 | $362.0M | 8.304M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 14238 | $43.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.44 | 25000 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| BHP (ASX) Chart |