Mate, I'm not sure how you reached that conclusion unless you mean China will still buy from FMG for whatever she needs even if she stops buying entirely from BHP and Rio.
If anything, it seems CISA has completed the ramp up of domestic production capacity about to be unleashed.
I was thinking about buying back in just yesterday seeing the iron ore price appearing to have stabilized somewhat. Looks like a safer bet to wait it out until just before Chinese New Year 2022.
CISA Iron Ore Supply Announcement, page-3
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Last
$22.00 |
Change
0.410(1.90%) |
Mkt cap ! $67.73B | |||
| Open | High | Low | Value | Volume |
| $21.93 | $22.09 | $21.58 | $138.1M | 6.316M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9247 | $21.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.00 | 3521 | 3 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |