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
Australian Resources:Ironore miners - what's priced in? The iron...
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Last
$40.22 |
Change
-0.200(0.49%) |
Mkt cap ! $204.1B | |||
| Open | High | Low | Value | Volume |
| $40.25 | $40.57 | $40.20 | $228.2M | 5.662M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1100 | $40.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.22 | 286 | 1 |
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| Last trade - 16.17pm 30/07/2025 (20 minute delay) ? |
| BHP (ASX) Chart |