Australian Resources:Ironore miners - what's priced in? The iron ore price hastraded down to US$95/t spot, -9.2% 1mth; China's macro and iron ore/steelsignals remain weak (here and here), China Baowu has warned of a "severewinter" for the steel industry, and Australian iron ore stocks have soldoff. What comes next? We look to cost curve support to emerge, given 95thpercentile is US$101/t and 90th percentile US$88/t. Flipping cost curves tomargin curves, we observe BHP has the highest, and therefore most resilient,iron ore margins. MIN and FMGare most operationallylevered to weak/weakening iron ore prices. UBS View: In a weak iron ore pricescenario, we prefer BHP (Neutral) >RIO(Neutral) > FMG (Sell) >MIN(Sell). Source:UBS
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Last
$39.73 |
Change
-0.280(0.70%) |
Mkt cap ! $201.4B |
Open | High | Low | Value | Volume |
$39.90 | $40.05 | $39.61 | $245.1M | 6.156M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3989 | $39.71 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$39.75 | 8637 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3989 | 39.710 |
7 | 2270 | 39.700 |
2 | 1050 | 39.680 |
4 | 1276 | 39.670 |
1 | 25 | 39.660 |
Price($) | Vol. | No. |
---|---|---|
39.750 | 8637 | 2 |
39.760 | 2900 | 2 |
39.770 | 2100 | 2 |
39.780 | 550 | 1 |
39.790 | 8971 | 1 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
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