I startet buying GRR when the sp was at 101 ct and continued buying until the price of iron ore dropped from 116 to 103 $ overnight.
Sold everything at 60 cent and of course I am glad I did.
I am a newby in metals ans minerals. First discovered FMG looking for high dividend yields. Loved their FFI activities and startet buying.
Also liked GRR a lot.
After reconsidering, I will stay clear of iron ore producers for the foreseeable future - with the exception of Ferrexpo who are producing pellets in Ukraine and at present run at a fraction of their previous capacity and sp.
Iron ore price depends mostly on China.
Is Chinese steel production sustainable? Not in my view.
As of today, there already are over 60 million unsold und unsellable apartments. These basically ought to be written off which would bancrupt a lot of construction companies.
The Chinese have been building like crazy and can`t go on like this forever. At some point the bubble will burst.
This will lead to iron ore prices which could be even much lower than 50 $ and stay low for years. I don`t want to be in that market when that happens.
I believe that risks outweigh chances. Those risks are present for other commodities as well, but probably worst for steel.
Meanwhile I am invested mainly in nickel and copper because I believe that growing demand will meet short supply.
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Last
42.0¢ |
Change
0.015(3.70%) |
Mkt cap ! $486.0M |
Open | High | Low | Value | Volume |
41.0¢ | 42.0¢ | 40.5¢ | $617.0K | 1.494M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 88560 | 41.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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42.0¢ | 209628 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 158433 | 0.410 |
12 | 470490 | 0.405 |
41 | 952653 | 0.400 |
15 | 410441 | 0.395 |
29 | 578554 | 0.390 |
Price($) | Vol. | No. |
---|---|---|
0.420 | 159628 | 6 |
0.425 | 204627 | 5 |
0.430 | 311809 | 8 |
0.435 | 293007 | 10 |
0.440 | 413397 | 16 |
Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
42.0¢ |
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Change
0.015 ( 2.97 %) |
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Open | High | Low | Volume | ||
41.0¢ | 42.0¢ | 40.8¢ | 292968 | ||
Last updated 15.59pm 17/05/2024 ? |
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