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
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$37.53 |
Change
1.410(3.90%) |
Mkt cap ! $190.5B | |||
| Open | High | Low | Value | Volume |
| $36.87 | $37.70 | $36.80 | $530.4M | 14.18M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6726 | $37.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.55 | 450 | 1 |
View Market Depth
| Last trade - 16.10pm 27/06/2025 (20 minute delay) ? |
| BHP (ASX) Chart |