I’m been watching this closely and I decided to get in today.
I bet on the expansion in Canada to enjoy the infrastructure deal in the US and the UK
I read a report in WHC and It said the SE Asian countries have been cutting their steel production outputs and that was the cause for a fall in cocking coal price which was a major raw material in blast furnaces.
So why iron ore price keeps rising?
I think China has been stockpiling iron ore and the steel production cuts should help to bolster the steel price.
When steel price is rising then the Europe and UK and Turkish steel producers will ramp up their steel output to meet fresh demands from the government’s infrastructure deals
CIA is well placed to tap on this market so I think it is still undervalued
Compelling case due to previous spend on phase 2, page-8
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Last
$6.05 |
Change
-0.220(3.51%) |
Mkt cap ! $3.134B | |||
| Open | High | Low | Value | Volume |
| $6.28 | $6.33 | $6.05 | $10.72M | 1.741M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7316 | $6.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.11 | 11983 | 4 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| CIA (ASX) Chart |