Resources down, financials up --- FMG isn't on its own in falling today.
I agree on the Chinese surprise...
Yes, certainly the Chinese are not to be taken lightly, they drive hard bargains and, I suspect, deliberately stopped buying commodities do deliberately drive down prices. Mission accomplished there.....
But now they are starved of necessary raw materials and stockpiles.... so up go prices.
Now, smart as they are, if the Chinese were THAT smart, they would not get roundly creamed evey year at the annual negotiation.
Yes, I know it was a seller's market.... But BHP and RIO aren't fools either, and drive extremely hard bargains.
Anyone who thought they would show up at the table and roll over to Chinese crying poor got it wrong.
chinese surprise, page-4
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Last
$18.33 |
Change
0.360(2.00%) |
Mkt cap ! $56.43B | |||
| Open | High | Low | Value | Volume |
| $18.11 | $18.49 | $18.10 | $176.9M | 9.659M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 78 | $18.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.35 | 100000 | 2 |
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| Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |